LSR Group BOD approves of buying shares in Uralscheben and Nova-StroyProekt

LSR Group’s Board of Directors approved of the company’s two recent transactions targeted at geographical diversification and building up their position on Yekaterinburg’s construction and building materials market, the Group’s official website reports.

One transaction involved acquiring 100% of Uralscheben’s shares. The sum of the transaction has remained unknown.

Uralscheben is reported to be one of Yekaterinburg’s major macadam market players that supplied 5% of all the macadam used by Yekaterinburg’s builders last year. Uralscheben owns 100% of Rezhevskoy DCZ and Gagarskiy granite mine’s stock. These two enterprises have licenses allowing them to develop the subsoil resources in two open cast mines with some 160 million cubic meters worth of explored reserves.

Another transaction had to do with buying 75% of Nova-StroyProekt’s stock. The sum of the transaction has remained unknown as well.

LSR Group reports Nova-StroyProekt deals in design of buildings, parking lots, garages, highways, and even whole living blocks and residential areas. The company has a license allowing it to design first- and second-level buildings; there are about 400 completed projects in their portfolio.

LSR Group bought 87% of Betfor’s shares in April 2008. Betfor is Yekaterinburg’s largest house-building factory and manufacturer of reinforced concrete, porous concrete, and conventional concrete.

In addition, the Group already owns about 60 hectares worth of land allotments in Yekaterinburg and is planning to use them for putting up blocks of economy class dwellings.