Type Public Products Cement CEO Igor Solonin (Jun 2006–) Founded 1922 | Industry Construction Materials Website www.novoroscement.ru Headquarters Novorossiysk Parent organization Chevre Investments Ltd. | |
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Revenue 14,051 billion rubles (2008, RBSU) Profit 6,296 billion rubles (2008, RBSU) | ||
Novoroscement is a major producer of cement with its headquarters located in Novorossiysk, Russia. The company's full name is Открытое акционерное общество Новоросцемент (Joint Stock Company Novoroscement).
Contents
History
The company originated in 1882 when the first cement factory in Novorossiysk was launched, named the Black Sea Society Cement Production (now called The Proletariat).
In 1922, the Novoroscement trust was established as part of the restoration of factories that were destroyed during the Russian Civil War. In 1992, the Novoroscement plant was privatised.
Owners and executives
The owner of all the company's shares is the Cyprus offshore company Chevra Investments Limited. The ultimate beneficiary of this company is a Russian businessman, Lev Kvetnoy.
Activity
The company owns three cement plants in the Krasnodar Territory – The Proletariat, October and Pervomajskij. These plants produce cement from high quality local raw materials, especially marl.
Cement production in 2007 totalled 3.8 million tons, with total revenue of US$400 million and net profit of US$215 million, as reported according to IFRS standards.