Atomenergomash buys 51% stake in Czech Arako
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)
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