LSR Group launched its brick plant in Pavlovsky Posad (Moscow region). The plant's designed capacity is 70 million bricks per annum.
The plant is expected to become the largest producer of high quality facing brick in the Moscow region. The state-of-the-art fully automated manufacturing equipment supplied by the world's leading companies allow us to produce facing bricks of perfect shape and maintain the same brick colour from batch to batch, which is new for the Russian market. The product range includes bricks of 10 colours and 5 textures under the trade mark RAUF. We can also produce exclusive dapple brick and several types of shaped brick. We intend to supply our brick to the Central, Southern and North-West Federal districts, in particular to St. Petersburg, Moscow, Vladimir, Ryazan, Vologda and Belgorod regions.
Raw material for the new plant will be supplied from the clay deposit of LSR Group located in Ozherelye, Kashirsky district of the Moscow region. Its confirmed clay reserves amount to 2.5 million tonnes.
Roman Filimonov, Deputy Prime Minister of the Moscow region, comments:
"The brick plant of LSR Group is a new generation facility which complies with the most up-to-date energy efficiency and environmental standards. The new plant will offer new possibilities for the region's economy, satisfy the existing demand for high quality bricks and improve the quality of residential construction in the region. The Moscow region is always open for developers and new investment projects as new projects imply new jobs, improvement of the living standards, development of engineering, transport and social infrastructure. All of these are the primary areas of the local government's activities."
Alexander Vakhmistrov, CEO and Chairman of the Executive Committee of LSR Group, comments:
"LSR Group is the largest producer of bricks in Russia. Launch of facing bricks production in the Moscow region is in line with our expansion strategy in this geographic area. As compared to other real estate developers we benefit from our sizable building materials business, which to a great extent covers demand from our real estate projects. We are currently running more than ten real estate development projects in the region as an investor, developer or contractor, including the projects carried out under governmental contracts. While we already have a significant real estate projects portfolio we still consider new projects in the region."
Note to Editors: OJSC LSR Group is a real estate development and building materials company founded in 1993 and operating in a number of complementary market segments. Its core business areas are production of building materials, real estate development and panel construction.
LSR Group's main operations are located in St. Petersburg, Moscow and Yekaterinburg. As of 31 December 2011 (according to Cushman & Wakefield Russia), the net sellable area of the projects in LSR Group's real estate portfolio is equal to 8.4m m2 with the market value of RUB 124bn.
In 2011, the sales revenue of LSR Group were RUB 51,910m (IFRS).
LSR Group is a public company, with its GDRs traded on the London Stock Exchange and its ordinary shares traded on MICEX-RTS.
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