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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.
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