With a contract signing in Moscow at the end of April 2015, Lewa marked its transition from a joint venture of Lewa GmbH, which had been in effect since October 2011, to a fully fledged subsidiary.
The Managing Directors of Lewa, Stefan Glasmeyer and Martin Fiedler, were on-site, as was Nella Vitalyevna Maloshenko, the signatory for the joint venture partner.
The complete acquisition of the company paved the way for the Leonberg, Germany-based pump manufacturer and system integrator to invest in the expansion of the subsidiary and to improve its position in Russia.
In this region, the main focus is on the oil and gas market, but the process industry also plays an important role. The new structure will enable Lewa to fulfill its wish of better serving the requirements for pump and system operations in the region. At the same time, Lewa plans to expand the on-site service capacities.
"Through our own subsidiary, we will be able to create more added value in the region, which our customers there greatly appreciate. Therefore, the contract signing will help us improve our market position over the long term," explains Glasmeyer, explaining the effects of the acquisition that was negotiated 18 months earlier.
Edited from source by Elizabeth Corner
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/04062015/lewa-transitions-russian-jv-to-full-subsidiary/