The UES board will consider the potential sale of a stake in Power Machines (Silovye Mashiny) [RTS: SILM] at a regular meeting March 30, a participant in a meeting of the UES strategy and reform committee said.
Power Machines provides engineering services, and 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. Its revenues, calculated to Russian Accounting Standards, totaled almost $600 million in 2005, including $7.1 million in net profit.
The company's largest shareholders are UES and Germany's Siemens, which hold 25% plus one share each, and Interros, the holding company for the world's largest nickel producer, which owns 30.4 %.
UES has the voting right on its stake. All minority shareholders of Power Machines hold more than 19.5%.
