Končar, Siemens Energy launch new joint venture
- Admin
- Jul 15, 2024
- 1 min read
Croatian firm Končar and Siemens Energy have formed a joint venture, Končar - Transformer Tanks (KTK), to focus on manufacturing transformer tanks. Končar holds a 60% stake in KTK, with Siemens Energy owning the remainder. The collaboration aims to enhance manufacturing capacities, streamline sales to Siemens Energy, and strengthen the global supply of transformer tanks. Gordan Kolak, President of Končar, highlighted the benefits of the collaboration in terms of crisis resilience and business growth. Tim Holt of Siemens Energy emphasized the importance of transformer tanks in ensuring the reliability and safety of the electrical grid. The future facility will produce 160 large power transformer tanks annually. Končar and Siemens Energy have a long-standing partnership dating back to 1994.
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