RZD to postpone sale of rail automation company
Published: Tue, 2015-02-03 15:47Russian railway monopoly RZD plans to postpone sale of its United Electrotechnical Plants ("Elteza"), one of Russia’s largest producers of alarms, rail automation systems and teleautomatics, according to Valeriy Reshetnikov, senior vice president of RZD.
Among the potential bidders for the company were some domestic and foreign engineering companies, and in particular Alstom, Siemens and some others.
According to Reshetnikov, sale of the company is unreasonable amid the times of economical instability in Russia.
Elteza operates 8 plants. In 2013 its revenue amounted to 11.6 million rubles (US$30 million), net profit - 2 million rubles.