Sulzer plant the fruit of commitment to Russian expertise
Published: 05 September, 2009, 09:10
TAGS: Investment, Markets, Oil, Russia and the global economy
Sulzer is setting up a key oil services facility in Russia after a magnate took a strategic stake in the company and pressured it into bringing expertise home.
Swiss manufacturing giant Sulzer is opening its first Russia plant. The firm will make oil field towers that turn crude into diesel.
Billionaire Viktor Vekselberg spent months trying to install his own chairman after buying a blocking stake. Sulzer's now says it has no problem with Russian control according to Peter Suess, Senior Vice President.
“We're living in a fully globalized world. I have a completely neutral position.”
Vladimir Kapustin, CEO of Vnipineft, says Russia's regained economic muscle, and the West better get used to it.
“Russia is no longer the poor relation. We're just as advanced financially and technologically. In projects like Sakhalin-2 we have every right to seize back control.”
Sakhalin-2 is the world's largest oil and gas project. Gazprom bought out Shell's controlling stake in disputed circumstances in 2006
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07.09.2009, 10:19
Nobel Economist says bank bonus’ need to reflect financial risksThe G20 called for the bonuses a bank can guarantee staff to be capped. But in an interview with RT, Nobel Prize winner Robert F. Engle III claimed the plans are misguided. |
