Siemens Acquires Elektrozavod Stake in Russian Joint Venture
Siemens Energy has fully acquired Siemens High Voltage Products OOO (LLC). Until now, Siemens had held a 51% 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% in the joint venture, which was founded in November 2008.
Following completion of the acquisition, Siemens wants to expand the production of circuit-breakers and disconnectors for high-voltage switchgear for the Russian market. “We continue to regard Russia as an attractive market for high-voltage products and anticipate good future business opportunities for our innovative technology. We’ll therefore be focusing our activities in the region and strengthening our position with local production capacities such as Siemens High Voltage Products,” said Udo Niehage, CEO of the Power Transmission Division of Siemens Energy.
In addition to local production in Ufa, Siemens will continue to supply high-voltage products for complex switchgear projects to Elektrozavod. Siemens High Voltage Products will produce and market not only high-voltage circuit-breakers and disconnectors but also DTC (Dead Tank Compact) switching modules for 110 and 220 kilovolts (kV).
Last year, the Russian joint venture secured two major orders from the Federal Grid Company for the supply of DTC switching equipment for the 110 kV voltage level.
For more information: www.siemens.com