Kiev, 19 December – Smart-Holding has acquired 25% of shares in Great Station Properties that is a shareholder in the parent company of Frunze NPO. Frunze Machine-Building Science and Production Association (Frunze NPO) is one of the largest machine-building groups in Europe manufacturing equipment for oil, gas, nuclear and chemical industries. Smart-Holding has been offered a buyout option for the controlling stake of Great Station Properties.
The CEO of Smart-Holding, Alexey Pertin, said: ‘Frunze NPO is of a strategic interest for us. We highly appreciate the potential of the traditional export supplies of gas compressor units and other equipment to Russia and the countries of the Central Asia. Their market is expected to grow during the forthcoming decade. Potentially, Frunze NPO can participate in local projects for the modernization of the Ukrainian gas transmission system, in the technical rigging programs for projects on development of the Black Sea Shelf, on infrastructural development of oil and gas fields, on refining of oil, associated gas and shale gas.’
Smart-Holding is one of the largest investment groups in Ukraine with focus on key industries of the economy, including metals and mining, oil and gas, banking sector, shipbuilding, real estate and agriculture.
Frunze NPO was founded in 1896. Today, it is one of the largest machine-building associations in Europe manufacturing equipment for oil, gas, nuclear and chemical industries. The association consists of four specialized production units for manufacture of chemical equipment, gas pumping units and compressors, nuclear energy pumps and the accessory equipment, blanking facilities and interplant cooperation sector. In addition, the company has six successfully operating limited liability partnerships that were established on its basis. Today, the company employs about 14,000 people. The total area of the company’s workshops is 591,812 square metres. Its gross production area is 503,691 square metres.