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Siemens joint venture inaugurates new compressor manufacturing plant in Russia

(PresseBox) (Erlangen (Germany), ) On September 30, RusTurboMash LLC, a joint venture of Siemens Energy and Iskra-Avigaz, inaugurated a new compressor manufacturing plant in the Russian city of Perm. Siemens holds a 51 percent stake in the joint venture and Iskra-Avigaz the rest. The combined investment of the two companies is EUR60 million. The initial plan in the upcoming months is to gradually start with the production of stator components for small compressors. By late 2012, the plant is expected to produce complete compressors. This will create as many as 250 jobs.

"Russia is a strategic market for Siemens," said Ralf Kannefass, head of the Turbo Equipment business segment of the Oil and Gas Division of Siemens Energy. "We've been operating in Russia for many years. Together with our partner we'll produce our latest generation of compressors in a state-of-the-art manufacturing plant." The new plant in Perm will deliver compressors with drives in the rating range between 6.3 und 32 megawatts (MW). The first machines are to be delivered to and installed in a compressor station operated by the most important customer Gazprom. Perm not only has a good infrastructure but also well-trained local specialists.

Siemens AG Energy Sector

The Siemens Energy Sector is the world's leading supplier of a complete spectrum of products, services and solutions for the generation, transmission and distribution of power and for the extraction, conversion and transport of oil and gas. In fiscal 2010 (ended September 30), the Energy Sector had revenues of approximately EUR25.5 billion and received new orders totaling more than EUR30.1 billion and posted a profit of more than EUR3.3 billion. On September 30, 2010, the Energy Sector had a work force of more than 88,000. Further information is available at: www.siemens.com/energy.