Russia: TDS to buy LSR’s concrete plants in Moscow and St Petersburg

The Titan Demontazh Stroy company (TDS), affiliated with a major St Petersburg’s holding company Titan, has bought seven concrete plants in St Petersburg and four in Moscow from the LSR group.

Experts estimate the cost of transaction at RUB 1.5 billion (€24.33 million/US$ 26.35 million). The transaction will be closed after approval of the Federal Antimonopoly Service scheduled for August 2015.

According to the representatives of TDS, the plants’ purchase is a part of the high-technology concrete production cluster that is being developed in St Petersburg and Moscow.

The project also involves the launch of a research guidance centre and modern laboratories, purchase of more plants, and a sufficient increase of additional investments.

The CEO of the Stroykom company Andrei Ledovskikh will be appointed the head of the concrete division.