In early 1979, as part of its attempts to expand into the US market, Renault bought a 20% stake in truck manufacturer Mack.[69][70] The aim of this operation was to make use of the company's extensive dealership network to distribute light trucks.[71] In 1983, Renault increased its stake in Mack to 44.6%.[70][71] In 1987, it transferred the ownership of a 42% stake to Renault Véhicules Industriels.[72]
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In the late 1990s and early 2000s, Renault sold various assets to finance its inversions and acquisitions,[84] refocusing itself as a car and van manufacturer. In 1999, the company sold its industrial automation subsidiary, Renault Automation, to Comau and its engine parts division to TWR Engine Components.[84] In 2001, Renault sold its 50% stake in bus/coach manufacturer Irisbus to co-owner Iveco and its logistics subsidiary, CAT France, to Global Automotive Logistics.[84] Following the sale of Renault Véhicules Industriels to Volvo in 2001, the company retained a minority (but controlling) stake (20%) in the Volvo Group. In 2010 Renault reduced its shareholding to 6.5% and in December 2012 sold its remaining shares.[85] In 2004, Renault sold a 51% majority stake in its agricultural machinery division, Renault Agriculture, to CLAAS. In 2006, CLAAS increased its ownership to 80% and in 2008 took full control.[86]
Following the 2022 Russian invasion of Ukraine which began on 24 February, many international, particularly Western companies pulled out of Russia. Unlike most of its Western competitors, Renault has been slow to announce any divestments or scaling back of its operations in Russia, drawing criticism.[140][141] On 21 March, after a brief halt, Renault resumed production at the Renault Russia car plant near Moscow.[142][143] On 23 March, while addressing the French National Assembly, Ukrainian president Volodymyr Zelenskyy called for French companies, including Renault, to leave Russia.[144] Later that day, Renault said it had "suspended" Renault Russia operations and was "assessing the available options" regarding its AvtoVAZ ownership.[145] In May 2022, Renault signed agreements to sell 100% of its shares in Renault Russia to Moscow City entity and its 67.69% interest in AvtoVAZ to NAMI (the Central Research and Development Automobile and Engine Institute). The agreement provides an option for Renault to buy back its interest in AvtoVAZ, exercisable at certain times during the next 6 years.[146]
In this episode of At Home with Laurie, we're headed to Port Townsend, Washington. Chris and Carol are proud owners of an 1890 Victorian home; their beautiful home is full of special moments and unique craftsmanship.
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