# Power Machines exits Siemens joint venture Siemens Gas Turbines Technologies

Power Machines (Silowyje Maschiny) exercised its option to sell its 35% stake in the Siemens Gas Turbines Technologies (SGTT) joint venture with Siemens, ending the nine-year partnership. Negotiations on the buyout sum are ongoing.

- Type: Partnership
- Announced: 2020-03-02
- Where: St. Petersburg, Russia
- Status: announced
- Products: gas turbines
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Siemens](https://endata.com/companies/301.md) (partner)
- [Power Machines](https://endata.com/companies/15083.md) (partner)

## Sources

- [handelsblatt.com](https://www.handelsblatt.com/unternehmen/energie/technologiekonzern-siemens-muss-sich-in-russland-einen-neuen-joint-venture-partner-suchen/25600274.html), 2020-03-02: "Power Machines hat bisher 35 Prozent der Anteile gehalten."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.