AtomEnergoProm buys into Hungarian manufacturer

07 August 2008

[Bloomberg, 6 August] AtomEnergoProm, a subsidiary of Rosatom, has acquired a 51% stake in Ganz Energetika, a Hungarian manufacturer of fuel-loading and hydraulic equipment for nuclear power plants. The value of the deal was not disclosed. Ganz Energetika has manufacturing facilities in Budapest. AtomEnergoProm said that Russian orders will double the Hungarian company's sales to €20 million ($31 million) per year, allowing it to "recoup all the investment". AtomEnergoProm reportedly plans to spend €300 million ($465 million) in 2008 to acquire eastern European and Russian producers of components used to construct nuclear power reactors. 

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