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TECHNONICOL Corporation bought 100% shares of JSC «ZNOiM», part of IZOVOL Group of Companies

11.04.2018 TECHNONICOL Corporation closed the deal of the acquisition of 100% of shares belonging to JSC ZNOiM, part of IZOVOL Group of Companies. The agreement was signed by the general director of TECHNONICOL Vladimir Markov and by IZOVOL shareholders Oleg Izotov and Sergey Burenin.

Earlier, on 12 October 2017, the Federal Antimonopoly Service approval has been obtained. The company purchases assets with its own funds without borrowing any. The amount of the transaction is not disclosed.

«The purchase of IZOVOL assets will allow TECHNONICOL Corporation to improve its positions in the thermal insulation in the Central Federal District. The enterprise in Belgorod enables the company to optimize the logistics processes, while also shortening the delivery time. It significantly increases business efficiency. Once integrated into TECHNONICOL, the company will still be producing goods under IZOVOL brand, well-known among the clients,«- commented Vladimir Markov, the general director of TECHNONICOL.

«TECHNONICOL attaches great importance to labor productivity, development of employee competencies, working in export markets. All of the above factors contribute to the further development of the IZOVOL brand and will lead to an increase in operating and financial results,’ — said Oleg Izotov, the general director of IZOVOL Group of Companies.

The production capacity of the enterprise in Belgorod is 1,5 million cubic meters. The total volume of mineral thermal insulation in TECHNONICOL is more than 11 million cubic meters. In the last 3 years, 14 billion rubles were invested in the «Mineral isolation» field.

The UniCredit Bank was the financial consultant on the IZOVOL shareholders part.

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