{"id":"cdbd9f0b-7df9-467c-b31a-2774f5a8c87d","slug":"power-machines-x-siemens-gas-turbine-jv","name":"Power Machines x Siemens (Gas Turbine JV)","partnershipType":"joint_venture","status":"dissolved","announcedDate":"2010-07-01T12:00:00.000Z","startDate":"2010-07-01T12:00:00.000Z","endDate":null,"summary":"Power Machines and Siemens AG formed a joint venture, Siemens Gas Turbine Technologies LLC, to develop, manufacture, and service large gas turbines in Russia. Power Machines held 35% and Siemens 65%. Following U.S. sanctions on Power Machines in 2018, Power Machines sold its 35% stake back to Siemens by 2020, and Siemens exited Russia entirely in 2022.","sources":[{"url":"https://www.reuters.com/article/business/energy/russias-sanctions-hit-power-machines-to-sell-its-stake-in-jv-with-siemens-idUSL8N2AV5ZS/","title":"Russia's sanctions-hit Power Machines to sell its stake in JV with Siemens","sourceName":"Reuters"}],"verificationPosture":"verified","reviewStatus":"reviewed","createdAt":"2026-07-06T11:03:56.295Z","updatedAt":"2026-07-14T21:34:53.107Z","parties":[{"id":"3b7b7be2-21b6-483d-ada7-611945cd9c2f","partnershipId":"cdbd9f0b-7df9-467c-b31a-2774f5a8c87d","companyId":"309a6d51-3c8f-4e56-bd3a-c998d4d516e4","externalName":null,"role":"co_developer","createdAt":"2026-07-06T11:03:56.678Z","company":{"id":"309a6d51-3c8f-4e56-bd3a-c998d4d516e4","slug":"power-machines","name":"Power Machines"}},{"id":"f9601b56-ec1c-4329-9c92-7e9ea4a64e7a","partnershipId":"cdbd9f0b-7df9-467c-b31a-2774f5a8c87d","companyId":null,"externalName":"Siemens AG","role":"co_developer","createdAt":"2026-07-06T11:03:57.061Z","company":null}]}