Mountrise Limited Will Buy the Share of RUSNANO in ETERNO
Following the results of the open competitive procedure on selling the share of RUSNANO in ETERNO in the amount of 49,89% of the shares, the winner was Mountrise Limited (controlling shareholder of PJSC ChelPipe, 51,9%). The transaction will be completed by the end of Q. III of 2017. RUSNANO withdraws with profit from the project.
RUSNANO and ChelPipe Group proceeded to the implementation of the joint project at the end of the year 2013. The project resulted in construction of ETERNO plant on manufacturing the junction pipeline components with the use of nanostructured materials. The plant manufactures stamp-welded pipeline components: first of all, bends for turning the pipeline in the needed direction and T-couplings for construction of branches, as well as components for the pipeline sealing and transition from one pipeline diameter to another.
Launch of ETERNO was a final step towards almost entirely achieving full import substitution in pipeline production. ETERNO’s T-couplings allow for conducting repairs of the main pipelines under a working pressure of up to 9.8 MPa and then putting them into operation without stopping the flow of hydrocarbons. Prior to the ETERNO launch it has been foreign manufacturers that have carried out the supply and tying-in of such components without interrupting flow for Russian energy companies.
The adoption of nanotechnologies allowed to achieve a sufficient increase in durability and service reliability of products. One of the technologies is seam welding using titanium and boron whose nanosized junctions contribute significantly to the hardened structure of the goods.
The productive capacity of the company makes it possible to manufacture up to 150 units of new products for the strategic projects of oil and gas companies of Russia and CIS countries.
“RUSNANO achieved all the goals of the project. We are satisfied with the results of the joint project and express our gratitude to our partners that have provided for the creation of the unique international level company, which products have replaced the products of western suppliers on the market”, so the Deputy Chairman of the Board of the Management Company RUSNANO Oleg Kiselev.
RUSNANO Joint-Stock Company was founded in March 2011 through reorganization of state corporation Russian Corporation of Nanotechnologies. JSC RUSNANO contributes to implementation of the state policy on the development of the nanotechnology industry by investing directly and through investment funds of nanotechnology in financially effective high-technology projects providing the development of new production facilities in the Russian Federation. Its primary investment focus is in electronics, optoelectronics and telecommunications, healthcare and biotechnology, metallurgy and metalwork, energy, mechanical engineering and instrument making, construction and industrial materials, chemicals and petrochemicals. 100 percent of RUSNANO’s shares are state owned. Thanks to RUSNANO’s investments, there are currently 95 factories and R&D Centers opened in 37 regions in Russia. JSC RUSNANO has profit for the last 4 years.
Management of assets of RUSNANO JSC is carried out by Limited Liability Company established in December 2013, RUSNANO Management Company. Anatoly Chubais is the Chairman of its Executive Board.
Work to establish nanotechnology infrastructure and carry out educational programs is fulfilled by RUSNANO’s Fund for Infrastructure and Educational Programs, which was also established during the reorganization of the Russian Corporation of Nanotechnologies.