Russia: LSR completes cement divestment

LSR Group has completed sale of its cement plant located in Slantsy, Leningrad region, to Russian market leader, Eurocement.

Following closure of the deal, Eurocement has now acquired full operating control over the facility based in northwest Russia. The plant, which began operations in September 2010, operates a 5000tpd clinker line and has  a cement output of 1.86Mta.

In a statement released yesterday, LSR reiterated that the divestment is part of its strategy of focusing on projects “with the highest returns on invested capital and the fast-growing real estate development business.” As a result the company said it has significantly decreased debt and made it 100 per cent ruble-based.