July 21, 2017 / 6:30 AM / 2 months ago

Siemens to exit Russian power-plant JV Interautomatika

FRANKFURT, July 21 (Reuters) - German industrial group Siemens will exit its Russian power-plant joint venture Interautomatika in light of a scandal that saw four gas turbines it sold for use in Russia turn up in Crimea, a region subject to EU sanctions, it said on Friday.

“Siemens will fully divest its minority interest in the Russian company Interautomatika, which offers products and services for power-plant instrumentation and control systems,” it said in a statement.

Siemens said it had now received credible information that all four of the gas turbines it delivered last year for a project in Taman, southern Russia, had been locally modified and illegally moved to Crimea. (Reporting by Georgina Prodhan; Editing by Victoria Bryan)

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