OMZ Group, one of Russia's largest heavy engineering companies, is to sell one of its Czech subsidiaries, Pilsen Steel, for 125.6 million euros, the company said on Wednesday.
The sale will help OMZ, controlled by Russia's Gazprombank, focus on the steel business in Russia, where it specializes in producing equipment for the nuclear industry, oil and gas companies, and electric power facilities, the company said.
Funds from the sale of the Czech subsidiary will be used to reduce OMZ's debt as well as for investment and equipment upgrades.
Further proof of this fact was provided by Obama Nuclear Security Summit held in Washington on April 12-13. However, this goal is unlikely to be achieved in four years.
Christophe Behar
We are preparing now a review of these design options and the decision has to be made in 2012, by the public authorities. ASTRID basic and detailed design will be launched afterwards.
AtomInfo.Ru
The cavalry is arrived on the Temelin tender in the Czech Republic. After the first round of bidding, three dozen companies are dropped out who have taken tender documents just to read.