Austria-based giant engineering and plantmaking company Siemens VAI Mining and Metals Technologies GmbH & Co. has announced its intention to expand its local business in Russia.
Siemens VAI intends to double the number of its Russian engineers to around 100 by 2009 and, above all, to increase its local activities in the plant modernization business, especially in the areas of electrical and mechanical components, innovative automation solutions and plant upgrades.
"The share of Russian value added to our projects in the iron and steel industry will more than treble in the next two years," Siemens VAI's CEO Werner Auer said in a statement.
As the Siemens VAI official responsible for business in the Russian iron and steel industry, Andreas Lemp stated that the company intends to expand its network for engineering, plant and maintenance services in order to be closer to customers, by acquiring other companies, establishing joint ventures and using its own resources.