LSR Group sells reinforced concrete plant

LSR Group sells reinforced concrete plant

LSR Group has sold 100% of its subsidiary Joint Stock Company PO Barrikada, running a reinforced concrete production facility in Gatchina (the Leningrad region), to Joint Stock Company Tushino Repair, Finishing and Construction Company (Tushinskoye Obyedineniye po Remontu, Otdelke i Stroitelstvu).

The disposal of the facility is another step in our strategy aimed to optimize the use of our assets and focus on our primary business - residential real estate development.

We do not plan to quit building materials business completely, Vasiliy Kostritsa, Deputy CEO of LSR Group, comments. However the company's strategy makes us look closely at our production facilities in order to maximize their efficiency. With the disposal of PO Barrikada we can say that we have completed the active phase of the optimization process.

The parties agreed not to disclose financial terms of the transaction.

For more information please contact:

LSR Group Press Service

+7 (812) 333-11-11

E-mail: [email protected]

www.lsrgroup.ru