Severstal announced that it has signed an agreement to purchase a stake in the joint venture with Germany's Linde AG. The JV produces serpentine heat exchangers for use on medium and large LNG. Upon completion of the transaction, Severstal will control 26% of the shares and Linde will control 74% of the joint venture.
The joint venture was established in June 2017 according to the scheme for localizing the production of heat exchangers in Russia. The plant will produce up to six spiral heat exchangers per year, including large heat exchangers. The plant is expected to reach full production capacity in 2020-2021.
The acquisition of a stake in the joint venture is fully consistent with one of the main approaches of Severstal's updated strategy; working more closely with clients and providing them with customized solutions as part of our strategy of "Superior Customer Service".
Severstal acquires 26% of shares in JV with Linde
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Azovpromstal® 4 July 2019 г. 11:18 |
