Atomenergomash sells its foundry

Atomenergomash sells its foundry

The Federal Antimonopoly Service (FAS) has allowed the holding company “Transport components” (TC) to acquire 75% of the foundry “Petrozavodskmash.”

LZ Petrozavodskmash, located in Karelia, belongs to the Atomenergomash a subsidiary of Rosatom.

This plant has been increasing losses since 2014. According to the results of 2018, the net loss of the enterprise reached 689 million rubles (10, 33 Million USD). Debt at the Petrozavodskmash foundry at the end of 2017 reached 1.7 billion rubles (around 25,5 Million USD). Therefore, most likely, as a payment for the transaction, the company associated with Andrei Bokarev will take care of the bulk of the company’s debt, but Atomenergomash will retain 25% of the enterprise.

This foundry is the only company in Russia that can produce castings from cast iron weighing up to 120 tons. The company’s capacities can provide more than 60 thousand tons of castings per year for the energy sector, machine tool industry, transport engineering, and other sectors. In particular, it produced large-size castings of cast iron for a research reactor with fast neutrons, which Rosatom is building in Dimitrovgrad. The Federal Service for Ecological, Technological, and Nuclear Supervision licensed the plant.

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Arnaud Lefevre

Arnaud Lefevre is the Chief Executive Officer of Dynatom International. Arnaud is in charge of the international development of the business portfolio.