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Siemens and Uralmash Form Joint Venture for Plant Building in Russia
01/02/2008 - Siemens and the Russian Uralmash Machine Building Corp. sign memorandum of understanding for formation of an engineering and supply joint venture to service the metals and mining industry in the Russian market.
Siemens and the Russian Uralmash Machine Building Corp. recently signed a Memorandum of Understanding to establish a leading engineering and supply company for plant building in the metals and mining industry in the Russian market.
“Siemens intends to increase its business in Russia and to use the joint venture (JV) as an engineering resource for its global engineering network in global markets”, said Dr. Richard Pfeiffer, CEO of Siemens VAI Metals Technologies, Austria. “With the JV we support the Russian national strategy to develop the heavy machine and plant building industry,” said Nazim Efendiev, Director General of Uralmashzavod.
Under the memorandum of understanding, Siemens would own 50% plus one share of the joint venture, which would be jointly managed by Siemens and Uralmash. Uralmash would contribute the business, personnel and all assets of Uralmash Engineering (UME), as well as the sales, engineering and project management departments of other subsidiaries that are active in plant building for metals and mining customers. Siemens would contribute business potential for subsupplies to projects of Siemens VAI Metals Technologies in Russia and abroad, and the license to use certain technology and process solutions such as pelletizing, sintering, blast furnace technology and cold rolling.
Contributions of both parties will be defined in further detail after the completion of due diligence.
Uralmash, one of the leading mechanical-engineering companies with plant production facilities in the CIS, supplies equipment for companies in the mining sector as well as in the metal industries> The company operates 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, 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.
