Salavatsteklo bought the Caspian glass plant - how the balance of power will change

Salavatsteklo became the owner of the Caspian sheet glass plant

On April 13, 2021, an auction was held for the sale of the property of the Caspian sheet glass plant.

The lot includes:

• production workshops with equipment;
• warehouses;
• administrative building;
• construction in progress;
• land plot (500 thousand hectares) and so on.

All property was pledged by Vnesheconombank. The Caspian Glass Factory was in bankruptcy at the time of the sale.

Initially, the lot was estimated at 5.7 billion rubles, the final purchase price was 3.16 billion rubles.

This is not the first time that the Caspian plant has been put up for auction. Several times they were declared invalid due to the lack of purchase bids.

In the fall of 2020, Salavatsteklo submitted a petition to the Federal Antimonopoly Service of the Russian Federation to obtain ownership of the main production assets of the Caspian plant. The petition was granted.

Caspian glass factory - from foundation to bankruptcy

The Caspian sheet glass plant (KZLS) is located in the Tyube village of the Kumtorkalinsky district, the Republic of Dagestan. Founded in 2008, in 2011 Vnesheconombank began financing the construction of the plant. The opening of the plant and the start of production of sheet glass under the Caspian Cristal Clear brand began in 2013. In 2015, the plant reached its full capacity - 600 tons of glass per day. In September of the same year, the bankruptcy procedure of the plant began due to debt to creditors in the amount of 16 billion rubles. Among the reasons: non-fulfillment of the production plan and miscalculations of the plant management. In January 2016, external management was introduced at the plant. In 2019, the plant was declared bankrupt.

In 2019, the net loss of a glass factory from Dagestan amounted to 2 billion 419 million rubles, in 2020 - 930.4.8 million rubles.

Salavatsteklo will increase its share in the window market

Salavatsteklo is a glass manufacturing plant for the construction, automotive and furniture industries in the city of Salavat, the Republic of Bashkortostan.

In 2010 Salavatsteklo bought another glass factory in Saratov - Saratovstroysteklo.

Now the capacity of Salavatsteklo on 2 float lines is 1,100 tons of glass mass per day. The capacity of the float line at Saratovstroysteklo is 700 tons per day. The total capacity of the 2 plants is 1,800 tons per day, or 16% of the total volume of the Russian market. The share of the Caspian plant as of August 2019 was 8%.

With the acquisition of the Caspian Glass Factory in Dagestan, Salavatsteklo can produce a total of up to 2,400 tons of glass per day and increase its share in the Russian float glass market to about 25% of the volume.

The balance of power could change the launch of a new furnace by another major player in the Russian glass business, AGC, in mid-2021.

Source portal WINDOW MEDIA: https://www.oknamedia.ru