Transmashholding ups sales 17.5% to 106.9 bln rubles in 2011
MOSCOW. Feb 28 (Interfax) - Railway machine-building holding Transmashholding (TMH) boosted sales 17.5% to 106.9 billion rubles in 2011, according to preliminary data, TMH said in a statement.
In 2010, TMH's sales totaled 91 billion rubles, a company representative told Interfax.
TMH is Russia's largest producer of rolling stock for railways and subways, with companies in St. Petersburg, Bryansk, Penza, and the Moscow, Rostov and Tver regions. Russian Railways (RZD) and Alstom each hold 25% plus one share in the company. The rest of its shares belong to Iskander Makhmudov and Andrei Bokarev, as well as firms controlled by TransGroup AS.
Alstom acquired its stake in TMH in the spring of last year, shelling out $75 million in the first tranche. The total cost of the deal is tied to TMH's financial results for 2008-2011.