Bashneft IPO Delayed

Bashneft is technically nowhere near ready for an initial public offering this year, although there is a possibility that there will be an offering next year, the company's President Alexander Korsik said at a shareholder meeting, Interfax reported. (MT)

Tilson to Head GM-AvtoVAZ

Gary Alan Tilson, after sales service director at GM International Operations, will become the Managing Director of GM-AvtoVAZ, replacing Jeffery Glover, who, after three and a half years running the joint company, is to take up a new post in Germany, the company said in a press release, Interfax reported. (MT)

Evonik to Invest $8Bln

Germany's Evonik Industries, a leading specialty chemicals manufacturer, plans to invest about 6 billion euros ($8 billion) in the next few years, including in Russia, Patrick Volhauser, a member of the company's executive board, said at the groundbreaking ceremony for an amino acid plant in Volgodonsk, in the Rostov region, Interfax reported.