Gazprombank bought 25% of the manufacturer of polymer pipeline systems GC Poliplastik

Key Russian manufacturer of polymer pipes “Polyplastic” with an annual sales volume of about 100 billion rubles. changed owners. Gazprombank bought 25% of the company directly, and received another 65% as collateral for a loan. Experts explain the deal by the large-scale investment program of Polyplastic, which needs money to increase production.

Gazprombank, through its structure ZPIF Gazprombank-Complex, bought 25% of the largest manufacturer of polymer pipeline systems in the Russian Federation, Group of Companies Poliplastik, according to data from the Unified State Register of Legal Entities. The deal was closed on March 12 this year. The parties do not disclose the amount. The seller was SIGP LLC, which is 100% owned by the group’s president, Lev Gorilovsky.

The company still has a 65% stake, which is pledged to Gazprombank. As Polyplastic explained to Kommersant, the package is collateral for a loan raised by SIGP from the bank to buy out shares from other group members. According to the Unified State Register of Legal Entities, in early March, the director for development of the compositional direction Andrey Menshov and the director of the administrative and management block Valentin Bubnovsky left the company’s capital. The remaining 10% in Polyplastic belongs to its founder and chairman of the board of directors, Miron Gorilovsky.

LLC “Polyplastic Group” was created in 1991. The company produces polymer pipes for external water supply and sewerage networks, hot water supply and heating, gas distribution, as well as polymer composite materials. The group includes 32 production sites located in Russia, Belarus and Kazakhstan, with a total production capacity of about 750 thousand tons per year.

“The Poliplastik Group is actively growing and expanding its competencies, and we are very pleased to have the opportunity to develop our potential together with such a strong and reputable partner as Gazprombank, which makes a huge contribution to the implementation of the largest infrastructure projects in our country,” Kommersant reported. Lev Gorilovsky. He said that there are no plans for significant changes in the top management team. This was confirmed to Kommersant by Gazprombank.

Mikhail Katsevman, director of science and development of NPP Polyplastic, president of the Union of Plastic Processors, explained to Kommersant that “a change in the number and composition of owners for companies operating in the market paradigm is absolutely common.” According to him, there are no difficulties in the company at the moment.

As the head of Rupec, Dmitry Semyagin, notes, the Polyplastic group had a very large-scale investment program. Over the past year alone, they have increased capacity and launched the production of new types of pipes at four factories in Russia and another plant in Kazakhstan, launched a new pipe plant and the production of pipe equipment, and announced the construction of two more pipe factories in St. Petersburg and Primorye. The company itself estimated investments in each future plant at 1.5 billion rubles. “Of course, it is quite difficult to implement such a program without involving partners. It should be taken into account that the growth rate of the pipe market in 2023 has decreased. If in 2021 pipe production increased by 35%, then in 2023 the increase was only 8%,” he says. According to the expert, the inclusion of investors from a powerful financial group among the founders was necessary for the company to implement its stated plans.

General Director of the Association of Pipeline System Manufacturers Vladislav Tkachenko considers Polyplastic a promising asset, noting the diversification of business across various industries. He claims that the group’s products “are in great demand amid the deterioration of municipal infrastructure.”

Mr. Tkachenko notes that the advantage of Polyplastic is the ability to implement turnkey projects, taking on design, construction and even operation. The company can also produce and build treatment facilities, and not just linear facilities. He emphasizes that the group’s revenues for 2023 were approximately 100 billion rubles, and operating profit amounted to about 20% of this amount.

Olga Mordyushenko