OREANDA-NEWS. Siemens and Alexei Mordashov, a latter buyer of 30.4% shares of Power Machines, agreed on strategical partnership of management, splitting responsibilities and main managerial posts in company, Veles Capital reports with reference to the press-service of Siemens.

Shareholders also agreed that Mordashov will be responsible for appointing director general of the company, as the largest its shareholder. While Siemens on its part is the main technological partner and will be responsible for appointing director of operations. In the opinion of Veles Capital experts, agreements achieved by Mordashov and Siements are prescient and logical: German concern is not new to energy (power) machinery construction and has rich technological experience in construction of such machinery.

By transferring control of operations into hands of German concern, Power Machines will get new quality approach of principal activities. Who takes seat of director general is unclear now, as current director – Boris Vineheizer will hold his seat until the sale of UES’ blocking portfolio. Main pretender for the last “slice of a pie” is Mordashov, as Bazel got no reason now to fight for company, 55% of which is held by the Severstal’s owner and Siemens.