Power Machines | 09 December 2007 г. | 12:36

Siemens Barred from Boosting Stake in Power Machines

The Russian Federal Anti-monopoly Service has refused to grant Siemens AG permission to purchase a controlling stake in Power Machines

The anti-trust watchdog cautioned that approval of Siemens's request would lead to breach of competition laws and dominance on the Russian energy equipment market.

Siemens accounts for 13 percent of the Russian power equipment market, while Power Machines represents 37 percent. Therefore, if the request to purchase the stake in Power Machines were granted, Siemens could gain a leading market position.

Source: Metal Supply and Sales
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