LSR Group acquires Russian business of H+H International A/S
01 November 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, today announces that it has acquired H+H LLC, a subsidiary of the Danish group of companies H+H International A/S.
Located in the Volosovsky district of the Leningrad Region, H+H LLC will be incorporated into LSR.Wall Materials Group’s division that already operates another aerated concrete production facility in Sertolovo.
The agreed acquisition price of RUB 1,116,858,000 is payable in cash.
H+H LLC’s factory was commissioned in 2009 with the current capacity of 450,000 m3 per year. It offers an extensive product range of wall and partition blocks of various density, including D300, D400, D500, D600 and U-blocks.
The acquisition of H+H LLC’s modern production facilities will allow LSR to significantly strengthen its position in the aerated concrete market of the North-West Federal District, while providing an opportunity to improve the shipment process and optimise commercial and administrative expenses.
For more information please contact:
Director of Investor Relations
LSR Group Press Service