21 Mar 2023 16:31

Sinara takes direct control of technical gas operator CryoGas

YEKATERINBURG. March 21 (Interfax) - Sinara Group has become the owner of 55% of CryoGas LLC, with 45% of the company's share capital transferred to Project Investments LLC.

According to the Unified State Register of Legal Entities, the changes took place on March 20 of this year.

Sinara had previously controlled CryoGas through Prospective Gas Technologies (ProspectivGasTech), in which it held a 55% stake (45% were also held by Project Investments). In February of this year, ProspectiveGasTech was reorganized through a merger with CryoGas.

As reported, in January 2022, Cryogenmash (part of United Machine Building Plants , OMZ) ceased being the owner of 99.9% of the technical gas business of CryoGas, with this stake transferred to Prospective Gas Technologies.

The CryoGas purchase and sale transaction totaled 10.184 billion rubles.

CryoGas' customers include major petrochemical and metallurgical enterprises. In addition to supplying major customers with technical gases via pipeline, the company also sells oxygen, nitrogen and argon in liquid form. The acquisition of CryoGas will allow Sinara to enter a new field related to the development of high-potential gas technologies as part of its ESG strategy.

According to CryoGas LLC reporting, the company's revenue in 2022 was 2.99 billion rubles, which is 5.9% less than in 2021, and its net profit was 847.45 million rubles (a 36.6% decrease).

Sinara Group was founded in 2001. It is a diversified company incorporating enterprises from various sectors. Its priorities are transport engineering, financial services and real estate development.

According to the Unified State Register of Legal Entities, Pavel Polikarpov (90%) and Igor Minukhin (10%) are co-owners of Project Investments LLC.