LIPETSK, June 6. /TASS/. Austria’s Hawle will expand operations on the company’s production site in the Lipetsk Region of Russia, the regional administration told TASS on Wednesday.

An agreement on cooperation and interaction between the administration of the Lipetsk Region and Hawle was signed earlier during the visit of Russian President Vladimir Putin to Austria.

"The subject matter of the agreement is organization of interaction between the parties in the sphere of joint implementation of the corporate production site expansion in the Lipetsk Region," the source said.

The Austrian company is producing high-technology shutoff valves in the regional special economic zone since 2011, he added.