Energy Machine Building Corporation To Be Created In 1Q06?

The Industrial Policy Ministry announced plans to unite Kharkiv-based Turboatom (TATM: SELL) (turbine equipment for all types of energy generating stations), Electrotyazhmash (turbo and hydro-generators) and the Kharkiv Electromechanical Plant (electrical engines and equipment for steel mills, energy generators, mines, etc). While the latter two are 100% state-owned, 24.78% of Turboatom belongs to a company related to Energy Standard group (owned by Konstantin Grigorishyn). The ministry is now trying to decide, how to deal with Turboatom?s private owners in the course of the corporation?s creation. Concorde Capital: The aim of the corporation is to more efficiently target export markets, which presently are dominated by Siemens, Alstom, and General Electric. Russian energy machine-building companies underwent a similar consolidation process, when the Power Machines holding was created.