Siemens and Uralmash Establish a Joint Venture for Plant Building in the Metals and Mining Industry for the Russian Market
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Linz/Moscow, 2007-Dec-21
Siemens and the Russian Uralmash Machine Building Corporation ("Uralmash") intend to establish the leading engineering and supply company for plant building in the metals & mining industry for the Russian market. On December 19, both companies have signed a Memorandum of Understanding (MoU). "Siemens intends to increase its business in Russia and to use the JV as engineering resource for its global engineering network in global markets", said Dr. Richard Pfeiffer, CEO of Siemens VAI Metals Technologies, Linz/Austria. "With the JV we support Russian national strategy to develop heavy machine and plant building industry", said Nazim Efendiev, Director General of Uralmashzavod.
According to the MoU, 50% plus one share of the Joint Venture will be owned by Siemens. The JV will be jointly managed by Siemens and Uralmash. Uralmash will contribute to the JV the business, personnel and all assets of Uralmash Engineering ("UME"), sales, engineering and project management departments of other subsidiaries of Uralmash active in plant building for metals and mining customers. Siemens will contribute to the JV business potential for sub supplies to projects of Siemens VAI Metals Technologies in Russia and abroad, the license to use certain technology and process solutions like pelletising, sintering, blast furnace technology and cold rolling. Contributions of both Parties to the JV will be defined in detail after due diligence.
Additional information on solutions for steel works, rolling mills and processing lines is available at www.siemens.com/metals.
Uralmash is one of the leading mechanical-engineering companies with plant production facilities in the CIS and supplies equipment for companies in the mining sector as well as in the metal industries with manufacturing workshops in Orsk and Yekaterinburg.
Siemens VAI Metals Technologies is one of the world's leading engineering and plant-building companies for the iron and steel industry as well as for the flat-rolling sector of the aluminum industry and for open-cast mining. MT, which was created from the integration of Voest-Alpine Industrieanlagenbau, Linz/Austria, plus the electrical engineering product business and automation solutions of Siemens, provides a comprehensive range of supplies and services for all related technological processes and integrated automation solutions for the entire life-cycle of metallurgical plants.
