Alexey Mordashov to split Power Machines into four businesses

Russian businessman Alexey Mordashov will split his power engineering business Power Machines, which was hit by US sanctions in 2018, into four businesses and transfer some assets to a new management company.

“Power Machines, which spans engineering and manufacturing equipment for thermal, nuclear and hydro power plants, will be split into four businesses as part of the new strategy.”reuters.com

• 1 source
• reuters.comRussian tycoon to split sanctions-hit power engineering business | ReutersMay 31, 2019

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