Basic Element Company, through its subsidiaries, operates in machinery, metals and mining, energy, financial services, construction, aviation, and agriculture sectors in the Russian Federation and internationally. It offers machinery for automobile manufacturing, the production of automotive components, aircraft and freight cars construction, and military hardware manufacturing; develops and produces hi-tech military equipment and provides repair services; generates and sells hydropower; and produces aluminum and alumina. The company also engages in development, residential construction, transport infrastructure construction, design works, building materials production, and large-scale const...
30 Rochdelskaya Street
Founded in 1997
Basic Element Restructures Construction Business; Announces Management Changes
Jan 28 14
Basic Element Company announced restructuring of its construction business managing system. Organizational developments are aimed at boosting the sector’s effectiveness, competitiveness and profitability, and will also help to expand the range of services. Two holding companies, Glavmosstroy and Transstroy, are created on the basis of Glavstroy holding, which manages Basic Element’s construction business. Glavmosstroy will focus on civil construction, while Transstroy will be responsible for infrastructure construction projects. Glavmosstroy holding company will be responsible for a complex development of residential construction, ranging from building materials’ production to real estate development projects. Thereby Glavstroy-Development and BaselCement will be added to new Glavmosstroy’s structure. Glavmosstroy business priorities include ramping up the volumes of panel and monolithic housebuilding in Central Russia, designing new economy- and premium-class residential real estate, further development of expertise in health service centers construction as well as raising effectiveness of own production capacities. On top of that, Glavmosstroy will also keep its eye on retaining leadership positions in social infrastructure construction in Moscow region and carrying out construction projects in the areas that had been previously occupied by industrial plants. Transstroy holding company will become a managing centre of infrastructure construction, and will unite a number of departments within the former Glavstroy. The new holding structure will develop expertise in building a wide range of infrastructure facilities throughout Russia. Among the key areas there will be highway and railroad construction, raising sports facilities as well as tunnel and bridge construction, airport and airfield
construction, building of hydraulic engineering facilities and various industrial projects. The company prioritizes private public partnership projects.
Evgeny Fedorov, who has earlier headed EuroSibEnergo and Irkutskenergo, was appointed Glavmosstroy CEO. Igor Pankin was named CEO of Transstroy holding company. Prior to that, Pankin worked at Project Engineering Company Transstroy. Siegfried Wolf was appointed the Chairman of both holdings’ Board of Directors. Yury Molotkov was named the Chairman of the Board of Directors of the OJSC "Holding company Glavmosstroy".