Russian multinationals expanding abroad: study
Russia's 25 most multinational companies have more than doubled their foreign assets, sales and number of employees abroad since 2004, according to a survey published on Tuesday.
The study compiled by the Skolkovo Moscow School of Management and Columbia University in New York found that the top 25 companies owned assets worth 59 billion dollars (40 billion euros) outside of Russia.
The ranking of Russian multinationals was headed up by oil major Lukoil, followed by state-controlled gas monopoly Gazprom, steel giant Severstal, metals holding Rusal and transport company Sovcomflot.
The main sectors on the list were energy, metals and mining.
The study also found that Russia's top 25 multinational companies had around 200 billion dollars in foreign sales every year, including exports, and employ 130,000 people abroad.
The companies' foreign sales and employment have more than doubled since 2004 and their aggregate foreign assets have grown 2.5 times in the same period, the study said.
The growth was far ahead of the world's 25 leading multinationals.
"This means that Russian global players are catching up with international competitors quickly" but "Russian multinationals have yet to outgrow their foreign counterparts," the report said.
AFP
