Elektrozavod

Holding Company Elektrozavod opened a new transformer plant in Ufa, Bashkortostan, with investments over RUB 5 billion. The plant produces power and distribution transformers up to 220 kV and will employ over 2,000 people.

LLC Megapolis Invest, a joint venture of Sistema and Sberbank Investments, has agreed to acquire an additional 29.64% stake in transformer manufacturer JSC Elektrozavod for over $78 million, increasing its holding to 94.01%.

LLC Megapolis Invest, a joint venture between Sistema (75.86%) and Sberbank Investments (24.14%), acquired a 64.37% stake in JSC Elektrozavod and 100% in LLC Elektrokombinat for about $333 million.