LenSpetsSMU has celebrated 20th anniversary! (press release)

20.06.2007

"Etalon-LenSpecSMU" holding has celebrated 20th anniversary. This is a unique achievement for the epoch when the basic principles of economy were changing.

LenSpecSMU was created as an enterprise of the ministry for electronic industry of USSR for building so-called "clean rooms", but very soon the enterprise was left without federal orders and without financing. During perestroika years, first ceased to exist the electronic industry, and then the USSR. But the young construction office did not collapse but was transformed into a cooperative production enterprise (CPE).

Later the CPE "LenSpecSMU" was transformed into CJSC SSMO "LenSpecSMU" which became the center for forming vertically integrated investment and construction holding. Today, "Etalon-LenSpecSMU" holding incorporates about 30 enterprises realizing all the stages of the investment and construction process: development, projecting, territories engineering preparation, building materials production, construction and operation of real estate.

Vacheslav Zarenkov is sure that the business has established itself. "I even can say why it has established itself - explains the holding's president. - First of all, one should know about the business he runs. Second, the most important thing isthe business, not money; one should not aim at the immediate enrichment, not to withdraw the assets from the circulation, but to invest them into development, into growth. Third, one should work honestly and in good faith, to develop circumspect relations with authorities and competitors, to respect business partners. And, at last, it is necessary to take care of forming the team where each employee, even that on the highest positions, continues to study".

During the past years LenSpecSMU has took leading positions in the field. During a number of years the office holds first place in Saint-Petersburg by the volume of the commissioned housing real estate. The most noticeable objects are quarters "Golden Facade", "Sea Cascade", "Lanskoy quarter", "Invigorating Spring", "Golden Bay", "At the Rostral Columns". The complex approach to territories development and ability to solve serious town planning tasks are the distinctive features of LenSpecSMU.

Nowadays the address program of the holding there are over 40 investment and construction projects having total area of over 3 million square meters. Besides housing objects, the investment unifying program includes commercial real estate objects: office and trading centers, hotels. The important field of the holding's activities has become the industrial construction. The Holding participated in building of North-Western heat and power plant, reconstruction of 12workshops of "Admiralty docks", building factory for Toyota. At present the holding performs construction of a factory for General Motors, participates in building the South-Western heat and power plant, finishes building Pulkovo customs terminal.

The Holding has become the first large builder that started mass hypothecary crediting for its objects. Among the partners of the company for hypothecary crediting are: North-Western bank of Sberbank of Russia, Rosbank, MDM-bank, "Saint-Petersburg" Bank, Impexbank.

The company has a considerable crediting history and gave good account of itself as a reliable and conscientious borrower and partner. Actively using all the range of financial instruments LenSpecSMU has allocated 2 bonded loans: in spring of 2005, for 1 billion rubles, and in summer of 2006 for 1.5 billion rubles. In Aril, 2007, the holding issued credit notes (CLN) for the amount of 100 million dollars.

LenSpecSMU has become the first Russian construction company to receive credit rating from the largest and the most conservative international rating agency Standard & Poor's. International scale rating "B" and the national scale rating "ruA-" evidence the high ability of the company to fulfill its debt obligations in time and in full volume. The holding is planning to perform primary allocation of its shares (IPO) within the nearest years.

The company has numerous distinctions and awards. In 2006, LenSpecSMU took the second place among 130 companies in the rating of "Elite of construction complex of Russia". At present, LenSpecSMU is one of the most successful enterprises of real economy of Petersburg and Russia by the level of technological, staff, organization and finances.