Russian multinationals expanding abroad: study

0 Comments | AFP, December, 2007

MOSCOW (AFP) — 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...