About Company
OJSC Power Machines is the leading Russian producer and supplier of end-to-end products and solutions for the power-plant industry, including engineering, production, supply, assembly, service and equipment upgrades for thermal, nuclear, hydraulic and gas-turbine power plants.
The Company has manufactured equipment with a combined capacity of 300,000 MW, which is installed and is successfully operating in 57 countries across the world. More than 2,700 steam turbines, 2,550 turbo-power generators, 700 hydraulic turbines and 600 hydro-power generators have been produced.
The Company takes the 4th position in the world by volume of installed equipment.
Established in 2000, OJSC Power Machines unites the engineering, production and intellectual resources of Russian most internationally famous enterprises:
Key challenges faced by the Company include the retrofitting and development of our production facilities, acquisition of new technologies and carrying out R&D activities, introduction of advanced business and management processes, enhancement and expansion of our product range in order to create competitive products and extend our sales markets.
Major strategic projects:
1. Construction of an advanced plant for production of power equipment
One of the first-priority projects of Power Machines, which has received the status of a strategic one in Saint Petersburg, is the construction of an advanced plant for production of power equipment. New production facilities based on sophisticated technologies is to ensure high quality of the products, increase the technological capabilities and labour productivity, enable to optimize the use of production space and reduce operating costs.
The first start-up facilities comprise a building for the production of of high-power turbines and turbogenerators for NPPs, an acceleration- balancing bench, a hardware production complex; warehouse and utilities infrastructure facilities. The plant’s first phase production program implies manufacturing of two fast-speed and two slow-speed steam turbines with a capacity up to 1600 MW each, and four turbo generators with the same capacity.
The project is to be completed in mid 2012 and to become one of the largest projects in Russia in the field of heavy engineering. The total amount of investments into the construction of the plant’s first phase is estimated at over 6 billion roubles.
2. Strategic partnership with Toshiba Corporation in localizing electrical equipment manufacturing in Russia
In September 2011 Power Machines OJSC and Toshiba Corporation announced that they have signed the agreement on the establishment of a joint venture and construction of a plant for the production and supplies of power transformers in Russia. The share of Power Machines OJSC in the joint venture will amount to 50.01% and the share of Toshiba – 49.99%. Volume of investments into the construction of this high voltage equipment plant will be more than 5 billion roubles. The project will be financed through debt and equity. According to the agreements achieved, the Russian-Japanese joint venture is going to make it possible to locate power transformers production in Russia and service electrical equipment.
3. Strategic partnership with Siemens in the sphere of gas turbine engineering
In December 2011 Power Machines OJSC and Siemens AG company signed an agreement to establish a joint venture for the production and maintenance of gas turbines in Russia. The total amount of investments into the joint venture will be €275 million and it will create 500 working places.
Siemens holds a 65% stake in this joint venture for manufacturing of high-performance gas turbines. Power Machines OJSC owns a 35% stake. The company is going to be established on the basis of Interturbo LLC which has been a joint venture between the partners since 1991. It will be subsequently renamed to Siemens Gas Turbine Technologies LLC and its activity will significantly expand. The company is going to set the production in Russia, carry out research and development of new gas turbines, assembly, sales, project management and servicing of E and F class high-power gas turbines with a capacity ranging from 168 to 292 MW.
4. Boiler equipment manufacturing
In February 2012 Power Machines OJSC completed the acquisition of 100 % stake of EMAlliance OJSC shares from Auburn Investments Limited . EMAlliance owns 77.33% of ordinary shares of Krasny Kotelshchik TKZ OJSC and 100% of one of the largest European companies producing boiler and heat exchanging equipment – Duro Dakovic (Croatia).
The acquisition of the EMAlliance OJSC shares by Power Machines represents another step in the consistent implementation of the company’s strategy aimed at achieving leading position among global providers of energy solutions.
The transaction naturally extends the global trend in power engineering aimed to combine manufacturing of turbine and boiler equipment for thermal power plants within one company. It brings forth to the largest manufacturer of power generating equipment in Russia able to offer competitive comprehensive supply of equipment and services for power facilities of any complexity.