Two subsidiary companies of LSR Group, OJSC Pobeda LSR and OOO GDSK signed loan agreements with OJSC Rosselkhozbank for an aggregate amount of US$ 150 million.
The loans are granted for a 3-year term. The transactions were approved by the Board of Directors of LSR Group on 17 April 2009.
OJSC Pobeda LSR (a subsidiary of LSR Group) is the largest producer of ceramic bricks in Russia. It comprises three brick factories in St. Petersburg and the Leningrad region: Keramika, Lenstroikeramika and Pobeda. The product range of Pobeda LSR includes all types of building and facing bricks as well as porous large-format RAUF bricks. Pobeda LSR is developing its own retail chain of Brick Centre outlets and has its own sources of raw materials: Krasny Bor quarries of Cambrian Blue Clay and Lenstroikeramika-Karier. Pobeda LSR has a regional representative office in Moscow.
OOO City House Building Company (a subsidiary of LSR Group) was founded in 2001. The company acts as customer, investor and developer to make arrangements for the investment in and construction of modern mass market and business class residential compounds. Since 2003, the company has completed 39 projects with a total effective area of over 500,000 sq.m. The company’s current projects have a total area of 6 million sq.m and are at different stages of implementation.