Flat glass manufacturer NSG Group has sold its Russian assets, including a Pilkington Glass Russia facility and the StiS group.
NSG said the sale to the FGC Group was for approximately JPY 5 billion ($36 million) and it will have made a full exit from Russia upon completion of the divestment.
Pilkington Glass Russia is represented by a glass factory in Ramenskoye, Moscow Region, with a nominal production capacity of 800 tonnes of glass per day.
The STiS group of companies includes eight production sites for the manufacture of double-glazed windows and specialised glass products – in Serpukhov, Vladimir, Saratov, Naberezhnye Chelny, Krasnodar, Stavropol, Voronezh and St. Petersburg.
FGC Group is increasing its assets in the glass industry.
In 2022, the company became the new owner of the glass businesses formerly owned by Guardian Industries.
Since September it has worked under the new Larta Glass brand.
After the purchase of the Russian assets of NSG, the portfolio of FGC Group of Companies will include three flat glass plants and eight glass processing plants.
The Pilkington Glass plant will operate under the Larta Glass brand, STiS Group will continue to develop in the market for the production of double-glazed windows under the current brand.
“The perimeter of the FGC group of companies includes high-tech enterprises, including Larta Glass plants,” said Vladimir Voronin, President of FGC Group of Companies.
“With the acquisition of the assets of Pilkington Glass, we are strengthening our expertise and expanding our share of the glass market. In addition, the new assets will allow us to increase productivity and diversify the range of glass products.”