Power Machines, Toshiba sign technology transfer agreement for St. Petersburg JV
ST. PETERSBURG. April 20 (Interfax) - OJSC Power Machines and Japan's Toshiba have signed a licensing agreement on the transfer of technology for their joint venture in St. Petersburg, LLC Izhora Transformers, the Russian company said in a press release.
Toshiba will provide Izhora Transformers with product design technology, and quality assurance standards and guides, as well as provide training of engineering and manufacturing personnel at the new venture.
The training will take place at both Toshiba's Hamakawasaki plant in Japan, and at the Izhora Transformers plant in St. Petersburg.
Power Machines and Toshiba signed documents on April 5 to set up the joint venture to manufacture and supply power transformers. Power Machines has a 50.01% stake in Izhora Transformers, and Toshiba holds 49.99%.
The venture will localize production, and provide servicing for power equipment.
The plant to manufacture high-voltage equipment will be located at Power Machines' site in the town of Metallostroi, where the company is already building a power equipment plant.
The 22,000-square-meter Izhora Transformers plant will include welding, winding, insulating and assembly line facilities, as well as a testing center. The plant is scheduled to launch operations by the end of 2013, and being serial production in 2014.
The product line will include 110-750 kV power transformers with capacity of 25-630 MVA, including three-phase versions and product units weighing up to 400 tonnes inclusive.
The Federal Grid Company is expected to be the main buyer of the venture's equipment. Other potential customers include the power facilities of IDGC Holding, RusHydro , state nuclear corporation Rosatom, and other generating companies and power grid operators in the CIS and Baltic region.
