Betfor’s net profit goes down 2.3 times in January-September 2008

RBC daily reports Saint-Petersburg-based LSR Group made an official statement related to their recent acquisition of Yekaterinburg-based NOVA-Group (one of the local market’s major developers). According to LSR Group’s General Director Igor Levit, the enterprise has already invested some $500m in the development of the building industry in Sverdlovsk Region. The terms of the transaction state that LSR Group is to get NOVA Group’s land allotments and industrial enterprises, while the developer gets to keep its image-building projects. LSR Group is planning to set up a company responsible for

LSR Group reports it is going to make the management of its Urals-based assets more centralized. The company says the Ural branch of LSR Group Management Company has already started working in Yekaterinburg. The branch will be run by the General Director of LSR Ural Management Company Andrei Bibikov. In the near future, LSR Ural Management Company is to merge with the holding’s main management company. The new branch is expected to run LSR Group’s Urals-based assets: ZAO Nova-Stroy, OAO Betfor Concrete Goods Plant, OOO SMU Nova-Stroy, OOO PKU Nova-stroyProyekt, and OAO Uralshcheben.

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

UrBC, Yekaterinburg, October 13, 2010. Finninno, a Finnish concern, suggested delivering the sets of equipment needed to manufacture elevator shafts to Betfor concrete goods plant (the asset of LSR Group). The proposal was made by Jarmo Huotari, and independent consultant, to LSR Group Ural branch’s Managing Director Andrei Bibikov in the course of the recent talks in Yekaterinburg. The technological line in question will make it possible for the plant to produce a dozen shafts a day, which is two times more productive than the plant’s current capacity. ‘The production process is as automated

OAO LSR Group, whose business activity involves a number of projects in Yekaterinburg, Sverdlovsk Region, might end up attracting some $100m less than expected in the course of its SPO. In fact, at the close of the sign-up session, the Group had to reduce the stock price by over 12%, that is, down to $8.5 to $9.5 per GDR, Vedomosti reports. So OAO LSR, Saint Petersburg’s major builder, declared that GDRs would be offered to the investors at $8.5 to $9.5 per receipt or at $42.5 to $47.5 per share (one share being equal to five GDRs). The total amount of investment should thus reach $667m, with