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Russia's Power Machines acquires 51% stake in Brazilian Fezer

March 23, 2015, 19:15 UTC+3 MOSCOW

Russia’s largest power plant engineering company has thus strengthened its presence in Latin American countries

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© ITAR-TASS/Vadim Zhernov

MOSCOW, March 23. /TASS/. Power Machines, Russia’s largest power plant engineering company, acquired 51% of shares in Brazilian engineering firm Fezer in a move to strengthen its presence in Latin American countries, the company reported Monday.

The cost of the deal was not announced.

Fezer, founded in 1948, is focused on producing various types of woodworking machines. The new enterprise will change its name to Power Machines Fezer S/A.

Power Machines has international experience in the field of design, manufacture and complete delivery of the equipment for thermal, nuclear, hydraulic and gas-turbine power plants. 100% of the company’s shares are owned by structures of Russian businessman Aleksei Mordashov.

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