Recently, Vladimir Putin authorized the acquisition of 100% of LLC “BASF Vostok” by the Russian company “Lakra Sintez”. This move comes after the German chemical giant BASF decided to halt its operations in Russia in 2022.
Financial reports indicate that “BASF Vostok” faced losses in 2022 and 2023, with a significant loss of 163 million rubles in 2023. However, the company had shown a profit of over 2 billion rubles in 2021. Overall, BASF incurred losses of 1.4 million euros due to its exit from the Russian market.
Founded in 1993, “Lakra Sintez” is a prominent producer, manufacturing over 60 thousand tons of products annually. The company boasts a range of paint and varnish brands such as “Teksturol”, Reinmann, and Parade. Ownership details reveal that Mikhail Dvinsky holds a 97.5% stake in the company, with Gennady Sobko owning the remaining 2.5%. Notably, Mikhail Dvinsky was associated with the Cooperative of real estate owners “SNT “Sputnik” until late 2022, led by Arutyun Vermishyan, who is a board member and co-owner of “SMP Bank” alongside Arkady and Boris Rotenberg.
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