OREANDA-NEWS. On Apr 14 2008 Atomenergomash OJSC (100% of its shares are controlled by Atomenergoprom OJSC) and ERCO OJSC signed an agreement for the purchase of 49% of the authorized capital of Arako spol  s.r.o..

On Apr 29 2008 the deal was registered by the commercial entity of the Regional Court of Ostrava (the Czech Republic). Thus, now Atomenergomash OJSC controls 100% of Arako.

To remind, Atomenergomash bought a 51% stake in Arako in Sept 2007.

Atomenergomash experts believe that the development of the production of pipe fittings and valves for nuclear power plants at Arako will help Russia to meet its demands under the federal target program for the development of its nuclear industry in 2007–2010 and -2015.

Arako is also going to develop mutually beneficial partnership with Rosatom companies in the framework of foreign projects.