RusHydro and Power Machines signed a strategic cooperation agreement
PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that it has signed a strategic cooperation agreement with Power Machines, aimed at development of a long-term and efficient cooperation in terms of manufacturing and delivery of electric power equipment for RusHydro’s needs. The document was signed on the platform of St. Petersburg International Economic Forum (SPIEF) by Nikolay Shulginov, Chairman of the Management Board – General Director of RusHydro and Roman Filippov, General Director of JSC Power Machines.
According to the agreement the companies intend to study possible options of signing long-term delivery agreements, joint participation in R&D projects in order to implement import substitution program, joint participation in international projects.
The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially from these statements. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, as well as many other risks specifically related to RusHydro and its operations.
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