OREANDA-NEWS. February 17, 2010. Atomenergoprom acquired Petrozavodskmash Corp. (one of the largest domestic engineering companies) through the companies of its structure. The organizer of the deal is Atomenergomash.

In order to effectively spending, purchasing Petrozavodskmash Corp. was accomplished through the exchange of shares of Petrozavodskmash JSC for a minority stake (7% of capital) Atomenergomash with surcharge. Shares purchased from the management of Petrozavodskmash, the cost of the transaction the parties have agreed not to disclose.

Before the transaction Atomenergomash conducted a comprehensive technical audit and capacity of the plant, which showed that the enterprise has the necessary production and personnel potential, in order to produce a wide range of basic and auxiliary equipment for nuclear power plants.

"By combining the competences of “Atomenergomash"JSC and “Petrozavodskmash” closed corporation we get another major manufacturer of equipment for nuclear power plants on the market, including, for the nuclear island. The deal is one more step in the implementation of programs to promote competition in the market of suppliers of equipment for nuclear power plants to ensure the quality of delivered products and management of investment funds ", — said the executive director of the directorate of nuclear energy industry corporation Rosatom, chairman Atomenergomash Kirill Komarov.

„Power of the companies in many ways are unique in that it allows you to master the production of the critical equipment for nuclear power plants under construction“, — said General Director Atomenergomash Vladimir Kashchenko. According to him, enterprises belonging to the group Atomenergomash already concluded with Petrozavodskmash Corp. contracts worth more than two billion rubles for the supply of equipment for the reactor of the island.

„I am confident that, through experience of Atomenergomash on the development of industries to implement the state program of building nuclear power plants, Petrozavodskmash would be most effectively integrated into the nuclear industry and to expand the supply of its needs for quality equipment at competitive prices“, — said V. Kashchenko.

Petrozavodskmash Corp. combines welding, field assembly and metallurgical production. Since its inception in 1960, it has steadily increased, going into new markets. The main customers are enterprises of pulp and paper mills, petrochemical plants, and energy complex.