Baring Vostok’s funds have also invested in companies operating in other interesting sectors of the economy, such as construction materials, residential real estate development, and others. Since 1996, Baring Vostok funds have invested over $300 million in six companies.
Spasskcement

Spasskcement

Association of cement producers in the Far East. Fully exited in 2007
Location:
Vladivostok, Russia
Years:
2001- 2007
Shareholding:
Controlling stake
Exit:
Sale to a strategic partner

The holding company has the leading position as Russia’s leading cement supplier for oil projects in Sakhalin and primary construction projects in Russia’s Far East.

The Funds sold their shares to Park Group from 2004 to 2007.

In the spring of 2000, the First NIS Regional Fund acquired a controlling share (60%) of Spasskcement, which was in a difficult situation due to low demand for cement and ineffective management.

Development stages:

  • In April 2000, Lymex Holdings was established as a partnership of Baring Vostok funds and Park Group, the largest distributor of the Spassky plant.
  • To improve efficiency in 2001 Spasskcement developed and implemented an ISO 9001 quality management system.
  • In 2002, the holding company purchased a controlling share of the Teplozersky cement plant in the Jewish Autonomous Region with a capacity of 870,000 tons of cement per annum. The plants in Spassk-Dalny and Teplozersk started working as a single group.
  • Over ten new cement brands were developed and certified including sulphate-resistant cement and cement for plugging oil wells.
  • The company implemented technologies and management methods allowing transition to manufacturing cement "upon request" according to specific client requirements.

Other projects

News

13 March 2017

Etalon 2016 Portfolio Value up 33% to USD 1.9 bln.

The updated valuation puts the open market value of Etalon Group’s portfolio at USD 1.9 bln, a 33% year-on-year increase. The open market value per share/GDR grew from USD 4.9 to USD 6.5. The Company’s landbank included 2.82 million sqm of NSA as of 31 December 2016.
13 March 2017

Etalon 2016 Portfolio Value up 33% to USD 1.9 bln.

The updated valuation puts the open market value of Etalon Group’s portfolio at USD 1.9 bln, a 33% year-on-year increase. The open market value per share/GDR grew from USD 4.9 to USD 6.5. The Company’s landbank included 2.82 million sqm of NSA as of 31 December 2016.
16 January 2017

Etalon Group Reports FY 2016 Operating Results.

Etalon Group Limited, one of Russia’s largest and longest-established development and construction companies, announces its unaudited operating results for the 12 months ended 31 December 2016, based on management accounts.
07 November 2016

Etalon Group Acquires New Project in Moscow.

Etalon Group Limited, one of Russia’s largest and longest-established development and construction companies, announces that it has signed a contract to acquire the rights to a new residential development project in Moscow.
13 July 2016

Etalon Reports 2Q and 1H 2016 Operating Results.

Etalon Group Limited, one of Russia’s largest and longest-established development and construction companies, announces its unaudited operating results for the three months and six months ended 30 June 2016, based on management accounts.
12 May 2016

Etalon Group Acquires New Project.

Etalon Group Limited, one of Russia’s largest and longest-established development and construction companies, announces that it has acquired six adjacent land plots in the Moscow Metropolitan Area for the development of a new residential real estate project.