OJSC Power Machines (

translit. Transliteration is a type of conversion of a text from one script to another that involves swapping letters (thus '' trans-'' + '' liter-'') in predictable ways, such as Greek → , Cyrillic → , Greek → the digraph , Armenian → or ...

Siloviye Mashiny abbreviated as Silmash, russian: ОАО «Силовы́е маши́ны») is a Russian energy systems machine-building company founded in 2000. It is headquartered in

Saint Petersburg Saint Petersburg ( rus, links=no, Санкт-Петербург, a=Ru-Sankt Peterburg Leningrad Petrograd Piter.ogg, r=Sankt-Peterburg, p=ˈsankt pʲɪtʲɪrˈburk), formerly known as Petrograd (1914–1924) and later Leningrad (1924–1991), i ...

. Power Machines manufactures

steam turbine A steam turbine is a machine that extracts thermal energy from pressurized steam and uses it to do mechanical work on a rotating output shaft. Its modern manifestation was invented by Charles Parsons in 1884. Fabrication of a modern steam turbin ...

s with capacity up to 1,200 MWe, including turbines for

nuclear power plant A nuclear power plant (NPP) is a thermal power station in which the heat source is a nuclear reactor. As is typical of thermal power stations, heat is used to generate steam that drives a steam turbine connected to a electric generator, generato ...

s. Its portfolio consists of turbine generators for the

Leningrad Nuclear Power Plant II Saint Petersburg ( rus, links=no, Санкт-Петербург, a=Ru-Sankt Peterburg Leningrad Petrograd Piter.ogg, r=Sankt-Peterburg, p=ˈsankt pʲɪtʲɪrˈburk), formerly known as Petrograd (1914–1924) and later Leningrad (1924–1991), i ...

and the Novovoronezh Nuclear Power Plant II. Also, Power Machines has supplied equipment to 57 countries other than Russia with significant market in Asia.

History

The company was created in 2000. 69.92% of shares were owned by Highstat Limited, a company controlled by Alexei Mordashov. 25% of shares were owned by

Siemens Siemens AG ( ) is a German multinational conglomerate corporation and the largest industrial manufacturing company in Europe headquartered in Munich with branch offices abroad. The principal divisions of the corporation are ''Industry'', '' ...

and 5.08% by minor shareholders. In December 2011, Highstat acquired Siemens's stake in Power Machines for less than US$280 million (3.6 rubles per share), below the market price (4.9 rubles per share). Power Machines was subsequently

delisted In corporate finance, a listing refers to the company's shares being on the list (or board) of stock that are officially traded on a stock exchange. Some stock exchanges allow shares of a foreign company to be listed and may allow dual listing, sub ...

from the

MICEX-RTS The Moscow Exchange (MOEX; rus, Московская биржа, r=Moskovskaya birzha, p=mɐˈskofskəjə ˈbʲirʐə, a=) is the largest exchange in Russia, operating trading markets in equities, bonds, derivatives, the foreign exchange market ...

stock exchange. In August 2012, Highstat made a mandatory offer of 4.53 rubles (US$0.139) per share to the remaining minority shareholders, which the Investor Protection Association said was significantly undervalued. Following a complaint filed by the association, the

Federal Financial Markets Service The Federal Financial Markets Service (FFMS, FSFR) (russian: Федеральная служба по финансовым рынкам, ФСФР) was a Russian federal executive body which regulated Russian financial markets and operated from 20 ...

fined Highstat 250,000 rubles.

Structure

* Leningradsky Metallichesky Zavod (1857 establishment), * Electrosila (1898 establishment), *

Turbine Blades’ Plant A turbine ( or ) (from the Greek , ''tyrbē'', or Latin ''turbo'', meaning vortex) is a rotary mechanical device that extracts energy from a fluid flow and converts it into useful Work (physics), work. The work produced by a turbine can be used ...

(1964 establishment), *

Kaluga Turbine Works Kaluga Turbine Plant (russian: Калужский турбинный завод) is a company based in Kaluga Kaluga ( rus, Калу́га, p=kɐˈɫuɡə), a city and the administrative center of Kaluga Oblast in Russia, stands on the Oka Rive ...

(1964 establishment), *

NPO CKTI NPO may refer to: Medicine * ''Nil per os'', Latin for "nothing by mouth", a medical instruction to withhold oral intake of food and fluids * neurogenic pulmonary oedema Science * North Pacific Oscillation, a teleconnection pattern in atmospheri ...

named after I. I. Polzunov (1927 establishment), * Energomashexport (1966 establishment), * Power Machines – Reostat Plant (1960 establishment).

Products

* GTE180 development, GTE170 production, GTE160, GT100, GTE-150, GTE-250 GTE-300 projects, GTE65, unit M94yu2 (Licensed V94.2 Siemens SGT5-2000E in 1994) * SGTT build licensed SGT5-2000E (GTE160 GTE180 TPE180), SGT5-4000F, SGT-600 (Baltika-25) * Silmash Gas and Steam Turbines K- and T- for Power Plants (Nuclear Thermal and Hydroelectric)

Management

The Board of Directors consists of eight members: * From Severstal-group - Alexey Mordashov, Alexey Yegorov, Vladimir Lukin * From Power Machines - Igor Kostin (General Director), Vadim Chechnev * From Universal Invest - Igor Voskresensky * From Siemens - Michael Zuss, Hans-Jurgen Vio

References

External links

* {{in lang, en}
Official website of Power Machines
Industrial machine manufacturers Steam turbine manufacturers Gas turbine manufacturers Engineering companies of Russia Water turbine manufacturers Nuclear technology companies of Russia Russian companies established in 2000 Russian brands Companies formerly listed on the Moscow Exchange Manufacturing companies established in 2000