Atomenergomash buys 51% stake in Czech Arako

Recycling

Atomenergomash, a Russian supplier of equipment for nuclear power plants, bought a 51% stake in Czech company Arako, a top manufacturer of industrial valves, the company press service reported Friday.

The purchase agreement was signed in Prague by Zdenek Mitas and Andrei Sleptsov, general directors of Arako and Intelinergomash, a subsidiary of Atomenergomash, which paid the €7.5 million ($10.7 million) from it own funds. Arako could now capture up to 50% of the Russian small-diameter industrial valve market. The segment is worth an estimated $50-100 million annually. Atomenergomash is a subsidiary of the state-owned TVEL Corporation, a leading producer of nuclear fuel. (rian.ru)

ADVERTISEMENT

17% of homeowners plan renovations this year Analysis

17% of homeowners plan renovations this year

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.