RDIF and Schneider Electric invest in electrical equipment manufacturing company Electroshield Samara
Saint-Petersburg, June 7, 2019 - The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, and France’s Schneider Electric, a global expert in energy management and automation, have agreed terms on joint investments of up to RUB3bn in one of Russia’s leading electrical equipment manufacturers, Electroshield Samara. The announcement was made during the St. Petersburg International Economic Forum.
Electroshield Samara provides equipment and services to some of Russia’s largest companies (Russian Railways, Gazprom, Rosneft, Surgutneftegaz, etc.). Currently, Electroshield Samara is implementing a comprehensive modernization program to improve production and strengthen its competitive position in the Russian electrical equipment market, that has an estimated capacity of RUB150bn. Funds invested will contribute to the creation of competitive domestic equipment based on the company’s own R&D.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
“Replacing imported equipment, components and technologies is a key challenge facing our economy today. RDIF plays an important role in supporting domestic companies whose products not only fully meet the needs of various sectors in the Russian market, but also create a platform for increasing localization and production capacity. In this regard, we look forward to a great positive effect from investments in Electroshield Samara”.
Leonid Mukhamedov, Executive Vice President, Strategy, Member of the Board, Schneider Electric, Chairman of the Board, Electroshield Samara, said:
“Electroshield Samara is one of the largest and oldest Russian manufacturers of electrical equipment, which continues its progressive development in the modern world. In 2013, Electroshield joined the global company Schneider Electric, gaining access to the best international practices. The enterprise has introduced lean production and quality management systems, and launched new product categories, including within alternative energy. Our partnership with the Russian Direct Investment Fund will allow Electroshield Samara to continue production modernization and expand the scope of its equipment application in projects across Russia”.
Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Currently, RDIF has experience of the successful joint implementation of more than 70 projects with foreign partners totaling more than RUB 1.5tn and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 800,000 people and generate revenues which equate to more than 6% of Russia’s GDP. RDIF established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than $40bn. Further information can be found at www.rdif.ru
Schneider Electric is a leader in the digital transformation of energy management and automation for households, buildings, data centers, infrastructure and industry. The presence in more than 100 countries enables Schneider Electric to be the undisputed leader in the field of power management (low and medium voltage, uninterrupted power supply) and automation systems. The Schneider Electric ecosystem includes the largest network of partners, integrators and developers who provide joint operational efficiency and real-time management. Additional information can be found on the website: www.schneider-electric.com/ru
Electroshield Samara is a high-tech manufacturing company with a 75-year history. It is the largest Russian manufacturer of electrical equipment in the 0.4-220 kV segment, switchgear, module solutions, complete voltage-transforming units, low-voltage switchgear and high-voltage equipment. The company has an approximately 30% market share in high-voltage substations in Russia. It is engaged in the design, production and supply of electrical equipment, installation and commissioning work, service, warranty and post-warranty service, as well as customer training. Electroshield Samaraequipment is used across all areas of the energy sector, as well as in oil and gas, power generation, mechanical engineering and grids, etc. Additional information can be found on the website: https://electroshield.ru/.
For additional information contact:
Arseniy Palagin Maria Shiryaevskaya / Andrew Leach
Russian Direct Investment Fund Hudson Sandler
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