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4 December 2007 - Siemens Power Transmission and Distribution division has set up a second joint venture with Elektrozavod, one of the leading Russian electrical engineering companies. Siemens holds a 51 per cent share in the new jointly owned company "Siemens High Voltage Products GmbH."
The company is headquartered in Ufa, the capital of the Russian Republic of Bashkortostan on the edge of the Urals and one of Elektrozavod's three production locations. The goal is the joint production and marketing of high-voltage switching products like circuit-breakers, disconnectors and compact switching modules, such as the Siemens Dead-Tank Compact.
Elektrozavod and Siemens founded their first joint venture in June 2007 to handle joint high-voltage switchgear projects and the aim of this new cooperation is to improve the market position of both partners in Russia and further expanding business there.
Siemens will contribute its product and production expertize and its portfolio of high-voltage circuit-breakers, disconnectors and switching modules to the new joint company. Elektrozavod, which is a system builder and the largest manufacturer of transformers in Russia, will provide its market experience and a well developed sales network in the country.
As a result of the joint venture Elektrozavod will also expand its product portfolio, which consists essentially of transformers, reactance coils and the necessary switching equipment. The joint venture will start work at the beginning of 2008.
"Working jointly with our partner, who is very well established on the Russian market, we'll be able to further increase our business in Russia with high-voltage products," stated Dr. Christian Urbanke, member of the Group Executive Management at Siemens Power Transmission and Distribution (PTD).
Elektrozavod's CEO Leonid Makarevitsch commented: "We will be able to demonstrate our strength as a system builder and as one of the leading electrical engineering companies in Russia even more effectively than before in this joint venture with Siemens thanks to its expertise and its high-voltage switch products."
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