OJSC Power Machines ( translit. 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 tu ...

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 generator that produces ...

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'', ''E ...

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, su ...

from the MICEX-RTS 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 OJSC Power Machines ( translit. 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. Power M ...

(1898 establishment), * Turbine Blades’ Plant (1964 establishment), * Kaluga Turbine Works (1964 establishment), * NPO CKTI 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 Alexandrovich Mordashov ( rus, Алексей Александрович Мордашов; born 26 September 1965) is a Russian billionaire businessman. He is the main shareholder and chairman of Severstal, Russia's largest steel and mini ...

Alexey Yegorov Aleksey Vladimirovich Yegorov (russian: Алексей Владимирович Егоров; born March 21, 1975) is a retired male freestyle swimmer. He competed in two consecutive Summer Olympics, starting in 1996 (Atlanta, Georgia) for Kazakh ...

, Vladimir Lukin * From Power Machines - Igor Kostin (General Director),

Vadim Chechnev Vadim (Cyrillic: Вадим) is a Russian, Ukrainian, Romanian, Slovene masculine given name derived either from the Persian ''badian'' (anise or aniseed), or from the Ruthenian word ''volod'' (russian: волод), meaning ''to rule'' or ''vaditi ...

* From Universal Invest -

Igor Voskresensky Igor may refer to: People * Igor (given name), an East Slavic given name and a list of people with the name * Mighty Igor (1931–2002), former American professional wrestler * Igor Volkoff, a professional wrestler from NWA All-Star Wrestling ...

* From Siemens -

Michael Zuss Michael may refer to: People * Michael (given name), a given name * Michael (surname), including a list of people with the surname Michael Given name "Michael" * Michael (archangel), ''first'' of God's archangels in the Jewish, Christian and ...

, 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