Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Nuclear Body in Takeover Negotiations

Atomenergomash, a recently created holding within the state-owned nuclear sector, is holding talks with several domestic machine-building companies over possible acquisitions or managerial takeovers, an official said Monday.

The holding is seeking to secure long-term supply of nuclear reactor building machinery as part of the state's drive to build 40 nuclear reactors in Russia in the next 20 years, Federal Atomic Energy Agency spokesman Sergei Novikov said Monday.

"It doesn't mean that we have to buy everything. The Federal Atomic Energy Agency is working through various options to create a way for us to manage a number of key assets in the nuclear machine building sector," Novikov said.

Atomenergomash, created in March as part of the state's restructuring of the nuclear sector along market lines, is a 100 percent-owned subsidiary of nuclear fuel monopoly TVEL. The Federal Atomic Energy Agency is the industry's controlling body.

Novikov denied, however, that Atomenergomash has any interest in leading turbine manufacturer Power Machines, referring to a Monday report in Kommersant, but did not elaborate.

Engineering companies OMZ and ZiO Podolsk, and certain units of the Izhora machine-building plants would be more suitable options for Atomergomash, a source at the Federal Atomic Energy Agency said Monday without providing further details.

Heavy machinery firm OMZ owns Czech nuclear engineering unit Skoda, which is currently bidding against Russia's power station construction company Atomstroiexport to build two nuclear reactors in Bulgaria.