Nissan opens in Russia

Article Excerpt

NISSAN MOTOR $11.93 (Nasdaq symbol NSANY; SI Rating: Above Average) (310-771-3111; www.nissanmotors.com; Shares outstanding: 2.3 billion; Market cap: $27 billion) has opened its first plant in Russia. The company will make Teana luxury sedans and X-Trail sport-utility vehicles at the $200-million facility, which is capable of producing 50,000 vehicles a year. Nissan’s plant is located in the St. Petersburg industrial zone. Manufacturers get tax breaks for setting up operations there, and benefit from a nearby port on the Baltic Sea. As well, Russia has placed high tariffs on imported vehicles. This makes it more advantageous for companies like Nissan to build plants there. Nissan Motor is still a buy. buy…