Guardian Glass enterprises in Russia will continue development with a new owner

FGC Group and Guardian Glass Company (Russia) announce a long-term mutually beneficial partnership.

On July 19, an agreement was signed on the acquisition of a business in Russia (plants for the production of sheet glass in Ryazan and the Rostov region) between FGC Group and Guardian Glass.

In April 2022, Guardian Glass (USA) announced a business reorganization and an upcoming exit from Russian assets. Together with the management of the company in Russia, an exit strategy was defined that ensures the safety of employees, the continuation of work and the fulfillment of obligations of enterprises.

“We are interested in retaining the team, the best practices and approaches that the company owns, and also continuing the investment program,” says Vladimir Voronin, President of FGC Group of Companies. “Thanks to the experience and developments of the Guardian company in Russia, we are able to apply high-quality energy-efficient solutions in construction that create comfort for end users and save energy resources.”

“The key priorities and approach to doing business will remain the same: product safety and quality, service standards and corporate culture, expertise and team work principles that have proven their effectiveness over the 15 years of the company’s history in Russia,” comments Elena Rassudimova, General Director of Guardian Glass " in Russia. Our commitment to continuous development has made us the partner of choice for a large number of architects, developers and the glass industry. We are pleased that our products are in demand, and we want to assure that they will continue to be available in the domestic market, and new products and solutions will be developed in accordance with the company's development plan.”

FGC Group buys a 100% stake in Guardian Glass enterprises in Russia.

The company did not disclose the value of the deal.

Guardian Glass Company (Russia) is one of the largest manufacturers of flat glass, coated glass and mirrors in the CIS countries. The two plants of the company are among the most modern enterprises for the production of flat glass, with a nominal production capacity of 750 tons of glass per day at the plant in Ryazan and 900 tons of glass per day - in the Rostov region.

The head office of the company is located on the territory of the Ryazan plant, from where the business of glass factories is managed throughout Russia and the CIS countries.

More than 10,000 architectural objects in the country and in the world have been implemented using glass from Russian factories. For example, the iceberg winter sports palace, the railway station in Adler, the towers Evolution, IQ Quarter, Neva Towers on the territory of Moscow City. Glass made in Russian factories can be seen at facilities in Sochi, the sports grounds of the World Cup, airports in Moscow and major Russian cities, and in many other projects.

FSK Group of Companies is one of the largest development companies, whose objects are presented in Moscow, St. Petersburg, Moscow, Leningrad, Kaluga regions and the Krasnodar Territory. The main direction of its activity is the construction of housing (comfort and business class), commercial real estate, transport and social infrastructure. In 2021, the Russian rating agency ACRA confirmed the A- (RU) credit rating of FGC with a stable outlook. According to preliminary estimates, the Group's revenue for 2021 amounted to more than 170 billion rubles, which is 45% higher than last year. The volume of real estate put into operation at the end of last year amounted to 909 thousand square meters. m.