OREANDA-NEWS. The Board of Directors of RAO "UES of Russia" noted the information on the target vision for the development of OAO "Power Machines", previously approved by the Power Machines Board on 23 November 2006. This document identifies the development priorities for the power engineering company, complementing and enhancing the Development Strategy Concept Statement approved by the Board of Directors of Power Machines on 15 September 2006.

In this connection, the key priority in the development of Power Machines for the period until 2010 will be meeting the growing demand for power equipment and increasing the capacity produced annually by 2011 to 17 GW from 8.8 GW.

According to the approved Strategy Statement, Power Machines expects to expand its share of the domestic market for power equipment to 60-70 percent through developing solutions most suited to the customers' requirements.
 
The Board of Directors instructed the Management Board of RAO "UES of Russia" to submit to the Board meeting scheduled for March 2007 its proposals on the disposal of the RAO UES stake in Power Machines taking into account the anticipated completion of RAO UES restructuring in mid-2008.