MOSCOW, October 23 (RIA Novosti) - The board of Russian heavy machinery manufacturer Power Machines elected on Tuesday Igor Kostin, until recently a top manager at steel giant Severstal, as general director.
A Power Machines spokesman said Boris Vainzikher had been dismissed from the top post.
The company accounts for 37% of Russia's turbines, turbo-generators, hydro-generators and electrical equipment market. It produces, assembles, services and modernizes equipment for hydro, thermal, gas and nuclear power plants and the transportation industry. The company has clients in 87 countries.
Power Machines' largest shareholders are Russian electricity giant Unified Energy System (UES) and Siemens, which hold 25% plus one share each, and Interros, the holding company for the world's largest nickel producer Norilsk Nickel, which owns 30.4%.
In July, Interros and UES said they intended to sell their stakes.
