Siemens acquires Elektrozavod’ stake in Russian joint venture

Monday, Mar 08, 2010

Siemens Energy has fully acquired Siemens High Voltage Products OOO (LLC). Until now, Siemens had held a 51-percent stake in the joint venture headquartered in Ufa, the capital of the Russian Republic of Bashkortostan located near the foothills of the Ural Mountains. Elektrozavod, Russia’s largest transformer manufacturer, held the remaining 49 percent in the joint venture, which was founded in November 2008. The Russian competition authority approved the transfer of title. Following completion of the acquisition Siemens wants to expand the production of circuit-breakers and disconnectors for high-voltage switchgear for the Russian market.

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