Ural Turbine Plant UTZ

Company

Mechanical and Instrument Engineering
Since 1938
Ural Federal District of the Russian Federation
Yekaterinburg

Owners:
Inter RAO UES, PJSC

Content

History
- 2024: Inter RAO bought Ural Turbine Plant
- 2023: Moselectroschit bought the Ural Turbine Plant from Renova
Notes

Owners

+ Rosneft of the Tax Code

+ Ministry of Finance of the Russian Federation

+ Gazprom

+ Inter RAO

+ Federal Agency for State Property Management (Federal Property Management Agency)

+ Government of the Russian Federation

Ural Turbine Plant JSC (www.) Is one of the engineering enterprises for the design and production of power equipment. UTZ was founded in 1938 and specializes in the production of steam turbines, service and modernization of steam and gas turbines. He has experience in the supply of energy equipment on the international market. Chairman of the Board of Directors of UTZ JSC and ROTEK JSC is Mikhail Valerievich Lifshits.

Main building of Ural Turbine Plant JSC, 2017

History

2024: Inter RAO bought Ural Turbine Plant

At the end of March 2024, Inter RAO closed the deal to acquire the Ural Turbine Plant. The financial terms of the agreement were not disclosed.

According to Interfax with reference to the Unified State Register of Legal Entities (USRUL), on March 27, 2024, Aktiv Energy, a company part of Inter RAO, became the owner of UTZ Active LLC. Inter RAO confirmed the closure of the transaction to the agency.

Unsplash

Inter RAO closed the deal to acquire the Ural Turbine Plant

The publication recalls that in August 2023, Boris Kovalchuk, who then headed the company, told reporters that Inter RAO expects to fully complete the purchase of the Ural Turbine Plant "by the end of the first quarter of 2024.

Subsequently, Moselectroschit LLC (MESh) and Kovrovsky Electrotechnical Plant LLC, owned by Alexander Plakida, transferred 100% of UTZ Aktiv LLC belonging to them to the security of the structure of Inter RAO PJSC - Aktiv Energy LLC

According to the Kommersant newspaper, Inter RAO has been collecting engineering assets for some time. Thus, the group owns the Voronezh Transformer plant and 65% in Siemens Gas Turbine Technology (STGT, another 35% from Power Machines Alexei Mordashov), previously owned by German Siemens Energy.

In addition, Inter RAO planned to acquire the shares of Power Machines in STGT and Power Machines themselves, but the companies did not agree on the financial parameters of the potential transaction. The company also has a production site for RGT, which assembles turbines under a GE license in Rybinsk. The head of Inter RAO, Boris Kovalchuk, said that the total order portfolio of the company's engineering divisions exceeds 150 billion rubles, which makes this business segment the largest in the Russian thermal electric power industry.^[1]

2023: Moselectroschit bought the Ural Turbine Plant from Renova

Moselectroschit"" acquired from Renova the Ural Turbine Plant (UTZ) in, Yekaterinburg which became known in mid-April 2023. Financial the terms of the agreement are not disclosed. According to sources "," Businessman the value of the transaction amounted to about 10 billion. rubles One of the newspaper's interlocutors familiar with the terms of the deal claims that Moselectroschit acquired up to 90% of the company's shares, and 10% remained with the head of the board of directors of UTZ Mikhail Lifshits.

Moselectroschit supplies electrical equipment to Rosenergoatom, Rosseti and Inter RAO. Since the end of 2022, the company is 100% owned by Alexander Plakida. Several interlocutors of the newspaper believe that the ultimate beneficiary of the transaction is Inter RAO. According to one of them, negotiations on the purchase are underway between Inter RAO and Moselectroschit by mid-April 2023.

Moselectroschit acquired the Ural Turbine Plant

Inter RAO did not confirm the negotiations with Moselectroschit to the publication, noting that engineering and mechanical engineering are strategic segments for Inter RAO and the company is "ready to discuss potential transactions with legal owners."

"Moselectroschit" does not have competencies in the engineering business and financial capabilities, so the deal is probably made in the interests of another player, added sources of the newspaper.

UTZ produces steam turbines for thermal power plants, nuclear power plants and nuclear icebreakers in the Russian Federation. The plant belonged to the Rotek holding of the Renova group of Viktor Vekselberg. In the Russian Federation, steam turbines are made only at the UTZ and Leningrad Metal Plant (LMZ) sites. The change in the owner of UTZ is significant in the context of the modernization program for old TPPs launched in the Russian Federation, Kommersant notes. According to the UTZ website, by mid-April 2023, the plant is participating in 22 projects to update generating capacities with a total capacity of 3 GW.^[2]

Notes

Источник — «https://tadviser.com/index.php/Company:Ural_Turbine_Plant_(UTZ)»

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