# KONČAR and Siemens Energy form joint venture for transformer tanks

KONČAR and Siemens Energy signed a joint venture agreement on July 12, 2024, to form KONČAR – Transformer Tanks, which will manufacture transformer tanks at KONČAR's site in Sesvetski Kraljevec. KONČAR will hold a 60% stake and Siemens Energy 40%.

- Type: Partnership
- Announced: 2024-07-12
- Where: Sesvetski Kraljevec, Croatia
- Status: announced
- Products: transformer tanks
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md), [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [KONČAR](https://endata.com/companies/16085.md)
- [Siemens Energy](https://endata.com/companies/6803.md) (partner)

## Sources

- [koncar.hr](https://www.koncar.hr/en/news/koncar-and-siemens-energy-strengthen-ties-and-launch-new-joint-venture), 2024-07-12: "Today's signing of the Agreement represents the beginning of a new joint venture that will bring many benefits not only for the KONČAR Group and Siemens Energy, but also for our country as a whole."
- [en.lider.media](https://en.lider.media/2024/07/12/joint-investment-of-koncar-and-siemens-energy-in-transformer-boiler-production/), 2024-07-12: "Today's signing of the Agreement marks the beginning of a new joint venture that will bring many benefits not only for the Končar Group and Siemens Energy but also for our country as a whole."

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