Grigorishyn to restructure power engineering assets under new management group

Energy Standard Group, controlled to businessman Konstantin Grigorishyn, will establish a separate management group for its industrial companies, according to an announcement today. The new group will include Sumy Frunze (SMASH: BUY), Zaporizhtransformator (ZATR: BUY), Zaporizhya Small Transformer Plant, Zaporizhya Super High-voltage Transformer Plant, and the Zaporizhya Cable Plant. Inna Perepelytsya: We perceive this announcement as Grigorishyn’s first step toward creation of a power engineering holding. We expect union under a power engineering-focused umbrella to bring about synergies for Sumy Frunze and Zaporizhtransformator in cost optimization and common participation in tenders next year. For more details see our Oct. 2007 Power Engineering Report.