LISBON, October 26 (RIA Novosti) - Atomenergomash, a Russian supplier of equipment for nuclear power plants, bought a 51% stake in Czech company Arako, a top manufacturer of industrial valves, the company press service reported Friday.
The purchase agreement was signed in Prague by Zdenek Mitas and Andrei Sleptsov, general directors of Arako and Intelinergomash, a subsidiary of Atomenergomash, which paid the 7.5 million euros ($10.7 million) from it own funds.
Arako could now capture up to 50% of the Russian small-diameter industrial valve market. The segment is worth an estimated $50-100 million annually.
Atomenergomash is a subsidiary of the state-owned TVEL Corporation, a leading producer of nuclear fuel.