LSR Group strengthens its position in aerated concrete market
21 August 2019
PJSC LSR Group agreed on terms to acquire H+H Russia 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 Russia LLC will be incorporated into LSR.Wall Materials Group’s division that already operates another aerated concrete production facility in Sertolovo. H+H Russia LLC’s factory was commissioned in March 2009 with the design capacity of 400,000 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.
Vasily Kostritsa, Deputy CEO for Building Materials of LSR Group, commented: “The acquisition of H+H Russia LLC’s modern production facilities will allow us to significantly strengthen our position in the aerated concrete market of the North-West Federal District, while providing an opportunity to improve our shipment process and optimise our commercial and administrative expenses. H+H Russia LLC has WEHRHAHN equipment installed and is run by highly qualified personnel. We are confident that the acquisition of such a great asset will have a strong impact on the LSR.Wall Materials business.
Both parties agreed not to disclose the financial parameters of the transaction, which is expected to be completed in the near future.
For more information please contact:
Director of Investor Relations
LSR Group Press Service