Siberian Cement became the sole executive body of Angarskcement and Iskitimcement. Federal Antimonopoly Service (FAS) approved the inclusion of plants in the holding structure in 2019, recognizing that this “will not create the possibility of eliminating competition in the cement production market”.
FAS took into account that Sibirsky Cement undertakes the obligations to finance further development of aforementioned enterprises. As a major shareholder of Angarskcement and Iskitimcement, the holding has already invested heavily in the enterprises.
“If the country's economy is back to stable growth, ensuring an annual increase in cement demand by 5-7 %, and the utilization of production capacities maintain at 60-70 % or more, we will be able to expand investment programs,” says First Vice President of Siberian Cement, Valery Bodrenkov. “Under these conditions, in the next two and a half years Siberian Cement is ready to invest about 3 billion rubles to modernize both facilities”.
Over 2.5 billion of those investments are intended for equipment maintenance and repair works.
The companies’ CEOs are now director generals of their respective plants: Vladimir Skakun manages Iskitimcement and Dmitry Kireev is the director general of Angarskcement plant.
Siberian Cement now comprises five cement plants (including Topkinsky Cement, Timlyuycement and Krasnoyarsk Cement) with a total capacity of 9 million tpa. The product line up of the holding’s enterprises includes 21 types of cement.
