St. Petersburg, Russia – 19 July 2019 – PJSC LSR Group (“LSR” or the “Company”) (LSE: LSRG; MOEX: LSRG), one of the leading real estate developers and building materials producers in Russia, announces that it has sold its 100% interest in its subsidiary LLC LSR. Reinforced Concrete to LLC Sib-Centre.

The modernised plant, which is located in the Nevsky district of St. Petersburg, has an annual production capacity of 126,000m3, including a wide range of reinforced concrete products, such as road and airfield slabs, piles, lift shafts, beams, crossbars, staircases and landing platforms, and concrete fencing. The disposal of the facility in Rybatskoye (St. Petersburg) represents another step towards the realisation of LSR Group’s strategy to optimise its reinforced concrete production assets.

Vasily Kostritsa, Deputy CEO for Building Materials, commented: “We have already announced our commitment to further restructure our reinforced concrete business segment and enhance its efficiency. This transaction is likely to be the final stage of this optimisation process. Today, LSR is self-sufficient through the two large plants we have in St. Petersburg and Yekaterinburg, both of which are performing well and serving our needs.”

The financial terms of the agreement have not been disclosed.

For more information please contact:  

Investor Relations

Igor Tsoy
Director of Investor Relations
E-mail: IR@lsrgroup.ru 

Media Relations

LSR Group Press Service
E-mail:press@lsrgroup.ru