In late May 2011, JSC VTB Bank offered RUB 1 bln credit facilities to NovorosCement Company to finance its current activities.
The 20-year-long cooperation of VTB and NovorosCement has been based on their mutual interest in further developing partnership relations. The parties have always met their obligations in full and on a timely basis. Presently, VTB also provides the Company with lending, cash and settlement services.
Nikolay Ustinov, VTB Senior Vice President emphasized that “benefiting from cooperation with VTB, the Company can get access to guaranteed funding resources to continue its sustained growth. On the whole, the Bank seeks to enhance partnerships with the leading companies of the Russian industry.”
JSC NovorosCement is a leading cement-producing company in its industry located in Novorossiysk and is a major cement supplier in the Krasnodar Region. The Company accounts for about 90% of the aggregate cement volume produced in the region (with its market share in Russia being 7.8%).NovorosCement incorporates three cement-producing plants with a full-cycle production – Proletary, Oktyabr and Pervomaisky. The plants’ capacities allow for 4 mln ton output of high-quality cement of various brands and grades, thus meeting the growing demands of both domestic and foreign customers.