Power Machines Toshiba High-Voltage Transformers, Limited Liability Company* (hereinafter referred to as “PMTT”), began the manufacturing of power transformers at its new plant in St. Petersburg, Russia. PMTT is a joint venture between Toshiba and Open Joint Stock Company “Power Machines”, a large energy generating equipment manufacturer in Russia.
Located in Kolpino, St. Petersburg, PMTT is engaged in the designing, manufacturing and sales of power transformers destined for Russia and its neighboring countries. The new plant covers an area of 22,000 square meters, and the amount invested in its construction was approximately US$160 million.
The demand for power transformers is brisk in Russia and its neighboring countries due to the need to refurbish aging substations. The transformer market in these countries is expected to grow to approximately 290 billion yen in 2015. To meet the increasing demand, Toshiba entered a joint venture in May 2012 with Power Machines which had boasted a proven track record in the former Soviet Union. Toshiba will promote its power transformer business in this region through the manufacturing and sales of power transformers by the joint venture, and strengthen its global supply chain of power transmission, transformation and distribution equipment.
* Renamed from Limited Liability Company “Izhora Transformers” (IZT) in December 17, 2013