Hungarian nuclear plant supplier Ganz Energetika acquired by Russia's Atomenergoprom

Wednesday, August 6, 2008

In line with prior agreements, Russian nuclear energy company OAO Atomenergoprom has acquired a controlling interest in Hungary's Ganz Energetika, a manufacturer of fuel-loading equipment and cooling pumps for nuclear power plants, Bloomberg reported.

Once the deal is concluded, Atomenergoprom will hold a 51% stake in Ganz; the value of the transaction was not disclosed. The deal is expected to boost Ganz sales to Russia to nearly EUR 20 million in a year from now, approximately twice the current level.

Atomenegroprom is part of Russian state-held nuclear energy holding Rosatom Corp. and is planning to spend EUR 300 in 2008 to acquire nuclear plant parts suppliers in Europe and Russia, according to the Bloomberg report

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