Bloomberg quote Renaissance Capital said OAO Power Machines, Russian billionaire Mr Alexey Mordashov turbine manufacturer will benefit from Siemens AG decision to stop production of nuclear-power equipment.

Siemens said it will withdraw from nuclear power production as Germany decided to abandon the atomic industry by 2022 after the Fukushima catastrophe in Japan earlier this year. Siemens will drop plans to work with Russia Rosatom Corp Chief Executive Officer Mr Peter Loescher told Mr Der Spiegel.

Analysts Mr Mikhail Sheplev and Mr Mikhail Safin at RenCap in Moscow said “The news is positive for Power Machines shares. It will leave a gap to be filled by its competitors, potentially including Power Machines which will allow the latter to increase its market presence and order book.”

The analysts wrote in a note that power Machines may try to take Siemens place in Rosatom projects to make install and service equipment for nuclear plants in Russia and abroad. OAO Severstal main owner and CEO Mr Mordashov holds more than 70% of Power Machines and received Russian antitrust approval on September 15 to buy out stakes held by other owners including Siemens’ 25%t holding in the company.