OREANDA-NEWS. June 22, 2011. EMAlliance has concluded the purchase transaction of 100 per cent shares of Duro Dakovic (Croatia), one of the largest European boiler and heat exchange manufacturing companies. Earlier Duro Dakovic was part of Austrian Energy & Environment Holding (Austria). Amount of the Transaction is about EURO 35 mln.

Having acquired the above assets, EMAlliance increased its production capacities by more than one fourth and became the largest European boiler equipment manufacturer for thermal power industry.

Duro Dakovic has two main manufacturing facilities which are located in Slavonski Brod and Luzhani. The Company’s production capacities allow manufacturing up to 15 thousand tons of equipment per year in compliance with the European and American standards. The Company’s number of employees is more than 800. So far, Duro Dakovic has such customers as Foster Wheeler, Burmeister and Wein Energy, Alstom, Hitachi Power Europe and some other power companies of Western and Eastern Europe. Current work load of the Company reaches 80%.

In compliance with the data of the financial statement for the year 2010 Duro Dakovic earnings amounted to EURO 40.2 mln.; at that, net profit was equal to EURO 2,4 mln. It should be noted that in 2010 the financial performance of the Company decreased by more than 2 times as compared to the previous period. It was caused by common financial problems of АЕЕ Holding, which determined favourable terms for EMAlliance to purchase the assets, but is not the reflection of actual financial potential of Duro Dakovic as an individual company.

Commenting on the transaction, Timur Avdeyenko, President of PJSC EMAlliance, pointed out that acquisition of large reviewed production capacities in Europe was the most important step in development of EMAlliance. In fact, it means conversion of the Russian company to effective and significant player at global power markets. “Within the framework of implementation of our development strategy we use the most advanced tools to enlarge the boundary of our presence at the international market. We are open to all partnership forms. At those strategic markets where acquisition of reviewed assets both for fabrication, and for engineering will be the optimum developmental variation for us, we are ready to follow this way”, he pointed out.