UralVagonZavod is increasing its share in Sambre et Meuse

07.06.2011 — News

SVERDLOVSK REGION.

The Research and Production Corporation UralVagonZavod intends to increase its share in the French company, Sambre et Meuse. Today, it owns 51% of shares. However, according to Oleg Sienko, General Director of the corporation, there is no intention to own 100% of shares of Sambre et Meuse.

The representatives of the Press Service of the corporation have informed "RusBusinessNews" that the French company will supply cast products to UralVagonZavod and promote railway products of the Russian company on the European market. Until 2012, the corporation is planning to invest 6 million euros in Sambre et Meuse.

The Research and Production Corporation UralVagonZavod, OJSC, was founded in March, 2008, using the facilities of UralVagonZavod, Federal State Unitary Enterprise. The corporation consists of more than 20 businesses and research institutions. It manufactures railroad, military, road-building and agricultural machinery and equipment.