Sibsteklo will increase its authorized capital

Dear colleagues, we are publishing news about a member of the Association "StekloSouz" of Russia, Siberian Glass LLC (“Sibsteklo”):

By the end of 2023, Siberian Glass LLC (an asset of RATM Holding, the largest manufacturer of glass containers beyond the Urals) will increase its authorized capital to 1.72 billion rubles - the corresponding decision was approved by the company’s Board of Directors.

An additional contribution to the authorized capital will be made by one of the Company's participants - JSC "RID Group - Novosibirsk" (an asset of RATM Holding, the management company of the Ekran industrial park) by transferring real estate belonging to it - production workshops and equipment that Sibsteklo previously used in lease rights.

“RID Group - Novosibirsk considers this step as an investment in the development of Siberian Glass LLC, whose indicators show dynamic growth,” comments Eduard Taran, president of RATM Holding. “Sibsteklo” will form a single property complex for the production of container glass, which will increase the financial stability of the enterprise and, as a result, achieve long-term business goals.

We would like to remind you that at the end of last year, the plant reached a historical maximum in terms of production – 816.4 million glass products rolled off the assembly lines, 15% more than in 2021. According to forecasts, this year Sibstek will produce 870 million units of glass containers.

In addition, according to Eduard Taran, an increase in the authorized capital will be an additional guarantee of the reliability of Sibstekl - the fulfillment of all obligations to partners and investors, will strengthen their confidence in the company, including supporting the implementation of plans for an IPO within five years.