24 Apr 2018 15:36
LSR Group completes sale of its reinforced concrete factory in Moscow
LSR Group has completed the transaction involving the disposal of its 100% owned subsidiary LLC DSK-Progress (former LLC LSR. Construction-Moscow) operating a reinforced concrete factory in Moscow. Operational control of the enterprise has been transferred to the buyer - Financial-and-construction corporation (FSK) Lider.
The disposal of the facility is another step in the company's strategy aimed to optimize the use of assets and focus on its primary business line - real estate development. As a part of this strategy LSR Group has recently sold its reinforced concrete plant in the Leningrad region. At this point the company has completed the active phase of the optimization process.
The reinforced concrete plant was founded in 1955. Currently, it is a modern enterprise manufacturing reinforced concrete products as well as designing and constructing residential and social facilities in Moscow and the Moscow region. The plant is equipped with the production lines by the leading German manufacturers: Weckenmann and Vollert. The equipment is fully automated, which allows the company to save time and labor forces. The production capacity of the plant is 250,000 square meters of housing or 150,000 cubic meters of reinforced concrete items per annum. By the end of 2017, the RAS-based net profit of the plant was RUB 6.02 million.
Financial conditions of the transaction are not subject to disclosure under the terms of the contract.
For more information please contact:
LSR Group Press Service
+7 (812) 333-11-11
E-mail: press@lsrgroup.ru
www.lsrgroup.ru