Russia's Hydraulic Machines To Gain Control Of Nasosenergomash

Ukraine’s Antimonopoly committee approved Hydraulic Machines? (HM) plan to increase its holding in Nasosenergomash to over 50%. Nasosenergomash produces pumps and energy machine-building appliances. HM, which already holds a 20.74% stake of Nasosenergomash, specializes in service, finance, information, consulting, leasing and intermediary functions. In 2004, Nasosenergomash increased output by 32.4% to USD 15.3mn, and net income from a USD 0.48mn loss in 2003 to USD 2.28mn in 2004. This year the company intends to spend USD 0.49mn for capacity development and increase output by 39% to USD 21.4mn.