Elektrozavod held the remaining 49% in the JV headquartered in Ufa, the capital of the Russian Republic of Bashkortostan. The Russian competition authority approved the transfer of title.
Following the completion of the acquisition, Siemens wants to expand the production of circuit-breakers and disconnectors for high-voltage switchgear for the Russian market.
Udo Niehage, CEO of power transmission division at Siemens Energy, said: “We continue to regard Russia as an attractive market for high-voltage products and anticipate good future business opportunities for our innovative technology. We’ll therefore be focusing our activities in the region and strengthening our position with local production capacities such as Siemens High Voltage Products.”
In addition to local production in Ufa, Siemens will continue to supply high-voltage products for complex switchgear projects to Elektrozavod. Siemens High Voltage Products will produce and market not only high-voltage circuit-breakers and disconnectors but also DTC compact switching modules for 110kV and 220kV. These modules, comprising circuit-breakers, disconnectors, grounding switches and current transformers, offer all the functions of an outdoor switchyard.
