Stroygazmontazh replaces CRC-Evans, Caterpillar equipment following sanctions
MOSCOW. Oct 30 (Interfax) - Stroygazmontazh (SGM) has found equipment suppliers in other countries to replace those that stopped doing business with it after Western sanctions were imposed, the construction firm's company's main co-owner, Arkady Rotenberg, told Interfax in an interview.
"Yes, there are some negligible aspects [that the sanctions affected]. For example, one of the suppliers of special machinery and equipment for SGM was the American company Caterpillar, but now we can't buy equipment from them. Well, we were forced - we found a replacement," he said.
"We've already successfully replaced everything, there are after all Chinese suppliers, Korean. When the sanctions were just imposed, we analyzed what was actually going on in our business and realized that the most protected organization in this regard was Stroygazmontazh, it operates only on the domestic market," Rotenberg said.
"I understand this, we made this company (SGM). We bought companies from Gazprom that later went into Stroygazmontazh during the 2008 crisis, when everything was crashing. We paid $400 million. We bought several businesses that were stagnating and built a company that has become one of the leaders on the oil and gas construction market. We introduced new technologies, strengthened staff, changed the system of control and reporting. Now SGM operates like clockwork, we're proud of this," Rotenberg said.
"Now, for example, I hope, we will build [the gas pipeline] Power of Siberia. Tenders have not been held yet. When they will be, we'll bid in a number of them and try to win," he said.
Arkady Rotenberg owns 83% of SGM and his brother Boris owns 17%.
The full text of the interview will be posted on www.interfax.com.
