UMATEX (Rosatom) and RUSNANO Have Signed a Share Purchase Agreement in Respect of Prepreg-ACM

06 June 2018

UMATEX (Rosatom) and RUSNANO have signed a share purchase agreement in respect of the portfolio company Prepreg-ACM. The transaction will close in October 2018. RUSNANO will sell its shares in Prepreg-ACM JSC. UMATEX will buy 100% of the shares.

As part of the transaction, the operational management of Prepreg-ACM JSC was transferred to UMATEX on June 4, 2018. Prepreg-ACM JSC is one of the biggest producers of carbon-fibre textiles and prepregs in Russia. The Company is rapidly expanding both its geographical presence in foreign markets and its product range. Thus, in 2017 Prepreg-ACM JSC’s proceeds from exports were more than 1.5 times higher than in 2016. Its products are sold in 17 countries, including Germany, Austria, India and Turkey.

Vladimir Kozlov, Managing Director of RUSNANO: “In the course of its development, the Prepreg-ACM JSC project successfully overcame a considerable number of difficulties. From 2016-2018 RUSNANO took over the management of the project and during that period the company implemented a new strategy, focusing on the creation of a range of world-class materials, developed by the company itself, and on increasing proceeds from exports (supplying materials used in the manufacture of cars—Mansory, Lamborghini, and in shipbuilding—Azimuth, Sanlorenzo), and introducing new materials as part of Russian civil aviation projects. These activities helped make it an attractive asset to the strategic investor, and enabled the investor to receive a good profit when it sold the asset.”

Aleksandr Tyunin, General Director of UMATEX: “The aim of the transaction was to consolidate assets relating to the main manufacturing processes of polymer composite materials—the creation of carbon fibre and carbon-fibre semi-finished products—textiles and prepregs for use in strategic manufacturing sectors. The acquisition of Prepreg-ACM JSC will enable us to process our own carbon fibre into textiles and prepregs, and use them in the construction of aviation equipment, in shipbuilding and car manufacturing, in wind energy, in the construction industry and in the manufacture of sports equipment. It will also help us better manage our pricing policy, speed up the process of replacing imports with domestically-produced goods, and increase the export potential of our composite materials, as more than half of the total volume of carbon fibre in the world is used by producers of end-products in the form of textiles and prepregs.”

Additional information

Reference

RUSNANO Joint-Stock Company was founded in March 2011 through reorganization of state corporation Russian Corporation of Nanotechnologies. JSC RUSNANO contributes to implementation of the state policy on the development of the nanotechnology industry by investing directly and through investment funds of nanotechnology in financially effective high-technology projects providing the development of new production facilities in the Russian Federation. Its primary investment focus is in electronics, optoelectronics and telecommunications, healthcare and biotechnology, metallurgy and metalwork, energy, mechanical engineering and instrument making, construction and industrial materials, chemicals and petrochemicals. 100 percent of RUSNANO’s shares are state owned. Thanks to RUSNANO’s investments, there are currently 95 factories and R&D Centers opened in 37 regions in Russia.

Management of assets of RUSNANO JSC is carried out by Limited Liability Company established in December 2013, RUSNANO Management Company. Anatoly Chubais is the Chairman of its Executive Board.

Work to establish nanotechnology infrastructure and carry out educational programs is fulfilled by RUSNANO’s Fund for Infrastructure and Educational Programs, which was also established during the reorganization of the Russian Corporation of Nanotechnologies.

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The UMATEX Group includes the only industrial-scale producers of carbon fibre (CF) in Russia: Alabuga-Fibre LLC, in the Republic of Tatarstan, Argon LLC, in Saratov Region, ZUKM LLC, in Chelyabinsk, and two trading companies, one in the Czech Republic and one in China. The scientific research centre, in Moscow, has the latest equipment for the development of PAN precursor and carbon fibre technologies. In January 2018 a specialist intraregional industrial cluster called Composites without Borders was founded. This is a unique venue for the development of the composite materials and products sector in Russia: its goal is the creation of a full-cycle technological production chain for composite materials. The Composites without Borders cluster was founded with a view to scaling up the Russian composite materials market, promoting the development of professional staff, replacing imports with domestically-produced goods, increasing exports markets and attracting private investment.

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Prepreg-ACM JSC is the leading Russian developer, manufacturer and supplier of composite materials based on carbon-fibre textiles and various types of polymer binders. The company is the only large-scale industrial producer of carbon-fibre textiles and prepregs in Russia where the key markets for prepregs are the aircraft construction and shipbuilding industries; they are also used in the construction industry as exterior reinforcement materials, and in the manufacture of sports goods. The most important sectors for export sales are shipbuilding and car manufacturing. RUSNANO Group has been a strategic investor in the project since 2009.