The fight for «Aktis» is over, the plant will go to the Pikalevites

A glass container manufacturer from the Tula region, Glanit JSC, affiliated with the Pikalevskaya Soda Group of Companies, became the only pledge creditor of the bankrupt Aktis glass container plant in Novocherkassk and began work at the enterprise's facilities. The company is now assessing the amount of investment needed and is entering into a hot repair contract to prevent stopping. Before Glanit, the plant's capacities were occupied by Rost-Impex and Alex Trade. According to the expert, the arrival of Glanit gives hope for a good ending to the long and tangled story of Aktis's bankruptcy.

On March 9, JSC Glanit began operating activities at the site of the Novocherkassk glass container plant Aktis. The company is now assessing the volume and timing of the required investments. A contract is being signed for a hot repair of the furnace to prevent it from shutting down, a source at the plant said.

In response to inquiry N, Glanit explained that the vast majority of Rost-Impex and Alex Trade employees (the previous tenants of the plant) currently work in a separate subdivision of Glanit JSC in Novocherkassk.

“Glanit JSC is currently leasing the entire production complex,” says N. in response to a request. “We specialize in the production of glass containers, we have all the necessary qualified personnel, as well as the necessary financial resources and licenses to maintain and develop production. Glanit JSC is a strategic investor in the glass container industry. We hope that Aktis will successfully integrate into the group and will continue to develop both in terms of production efficiency and the range and quality of products ”.

Glanit noted that the company became the only pledge creditor of the bankrupt Firm Aktis JSC.

- We signed an amicable agreement with the previous tenant, he vacated the site, and we leased the property complex to JSC Glanit. I confirm that at the moment JSC "Glanit" is the only secured creditor, - said the bankruptcy manager of JSC "Firm" Aktis "Alexei Botviniev.

Earlier it was reported that the bulk of the debt of the Novocherkassk plant from RNGO LLC and the Czech Export Bank was bought by the structures of the Pikalevskaya Soda group of companies, namely Glacem LLC and Pikalevskaya Soda JSC, thus becoming the main creditors.

Irina Evstigneeva, Corporate Finance Director of Pikalevskaya Soda, explained to N that Pikalevskaya Soda and Glatsem ceded their claim rights to Glanit JSC, part of the security rights was purchased directly by Glanit JSC from other creditors of Aktis Firm ... Pikalevskaya Soda also added that Glanit is not part of their group of enterprises, but is an affiliated company.

According to the Unified Federal Register of Bankruptcy Information, Glanit has indeed become Aktis's largest creditor. Over the past three months, he replaced JSC Pikalevskaya Soda, LLC RNGO, SBK Uran and Bank Zenit in the register of creditors' claims, becoming the owner of debts in the amount of more than 7 billion rubles.

Glanit is engaged in the production of glass containers. The enterprise is located in the village of Pavlovo, Tula region. According to the financial statements provided by the company, in 2020, the revenue of JSC Glanit amounted to 4.9 billion rubles, which is 8% more than in 2019. Profit in 2020 increased by 32% and amounted to 775 million rubles.

Earlier, in an interview with N, the lawyers noted that the acquisition of rights of claims against the debtor from the secured creditors allows the new creditor to consolidate votes and make decisive decisions on the sale of the pledged property. In particular, such a creditor has the primary right to establish the initial sale price of the pledged property, and is also able to determine the procedure and conditions for holding tenders for its implementation.

The Aktis plant was built from 2007 to 2013. The first loan was provided by the Czech Export Bank. The company was crippled by the fall of the ruble in 2014, which critically worsened its debt. An aggravating circumstance was the conflict between Vladimir Baziyan and his partner in the Escort company, Leonid Tavrovsky, which led to the collapse of their business. In 2017, Aktis was declared bankrupt, bankruptcy proceedings were opened.

Several entrepreneurs fought for Aktis. The previous tenant of the plant, Alex Trade, occupied the facilities of the enterprise from the beginning of the bankruptcy procedure, even despite the bankruptcy administrator's decision to terminate the lease agreement. According to unofficial information, Alex Trade was controlled by the founder of Aktis, businessman Vladimir Baziyan.

Last summer it became known that Alex Trade had subleased the production facilities of the enterprise to Rost-Impex. This company was associated with the owner of the Rostov port Oleg Gryzlov, he did not comment on this connection, but confirmed his interest in the plant. At the beginning of March 2021, Alex Trade refused to lease the plant, concluding a settlement agreement and recognizing the lease agreements as terminated.

Today Aktis is one of the largest glass container factories in Russia. The head of one of the Russian glass container factories, on condition of anonymity, told N that the interest in Aktis is determined by several factors: the leading position in the market, the low price of the crisis asset, the developed infrastructure of the enterprise, as well as the availability of personnel, with which the industry now has big problems.

According to the president of "StekloSouz" of Russia Viktor Osipov, in 2000 the country produced 5.6 billion units of glass containers, in 2010 - 12.4 billion units, in 2020 - 14.6 billion units. Of these, the capacity of Aktis is 1.4 billion units per year, which is considered a pretty good indicator for one plant.

- In 2020, the glass container industry even felt overproduction, but due to the fact that we have a fairly well developed export, we manage to pass this period without shocks. Last year, the glass industry entered the top five exporters, becoming the third after metallurgical and chemical. Major players in the Russian market are the Chagoda Glass Factory with assets in Lipetsk and Chagoda, Stekloholding in the Vladimir Region, Glass Decor in Orekhovo-Zuevo, and Sibsteklo in Novosibirsk. Actis is also a serious player. It is renowned for its powerful professional staff and well-equipped equipment.

Viktor Osipov noted that the specificity of glass container production lies in its continuity. Glass furnaces are ignited and operate for 10-14 years, after which they need to be stopped and repaired. Launched in 2013, Actis will soon celebrate its tenth anniversary. The plant is approaching a date when it will require significant investments. Source N at Aktis previously reported that two out of three furnaces have been operating at the plant for the past five years.

“Stoves are a tool that does not understand the political and economic situation,” says Viktor Osipov. - It is important that the owner foresees all changes in the market, predicts, calculates. The demand for glass is kept at a high level, all food production is tied to glass, these are wine and vodka products, water, juices, dairy products, etc. Pikalevskaya soda has been conquering the glass container market for several years. They invested in the Tver glass container plant, then in the Aleksinsky glass plant (JSC Glanit). There is no reason to think that the work of Aktis will be stopped, this is not why Pikalevskaya Soda buys its debts. At least two other enterprises where Pikalevskaya Soda has invested are doing well. I hope Aktis will become the third and will develop successfully.

Source: https://gorodn.ru/