OREANDA-NEWS. August 23, 2010. SCM Group has completed the purchase of the 6.4% interest in Donetskgormash and, thus, increased its shareholding to the level of controlling stock 50.5% (before the transaction SCM Group owned 43.65% of Donetskgormash shares).

"As a strategic investor SCM Group is interested in consolidation of heavy engineering assets", commented on the event SCM Director of New Business Development Nikolay Nesterenko. We are confident that as one of the most promising heavy engineering companies in the SCM portfolio Donetskgormash will be smoothly integrated into the existing SCM heavy engineering businesses".

SCM Group also has a controlling shareholding in other six heavy engineering businesses: Donetsk Power Equipment Plant, Druzhkovka Heavy Engineering Plant, Sverdlovsk Heavy Engineering Plant, Gorlovskiy Machinostroitel, Ukrtansmash and Kamensk Machine-Building Plant (Russia).

"SCM's interest in heavy engineering business is of strategic nature and we are going to pay great attention to its development in the future. Now our priority in the area of heavy engineering is creation of an industrial vertically integrated holding. This business management structure will help us achieve the main objective - to secure stable business growth of the Group in the area of heavy engineering as a whole and in each particular asset", added Nikolay Nesterenko.