Caterpillar Russia Caterpillar

Performance indicators

2023

According to the SPARK-Interfax analytical system, the revenue of Caterpillar Tosno LLC for 2021 amounted to almost 5.9 billion rubles, but in 2023 it decreased to 210 million rubles. The company for three years in a row reflects a net loss: almost 890 million rubles in 2021 and about 2 billion rubles in 2022 and 2023, respectively.

History

2024: David Amarian Foundation buys out Caterpillar's Russian business

The Balchug Capital fund, owned by Armenian entrepreneur David Amarian, has completed the acquisition of Russian assets of the American company Caterpillar. Among the transferred assets are a plant for the production of special equipment in Tosno (Leningrad Region) and a leasing company in Moscow. The deal was officially completed on June 14, 2024.

According to the Unified State Register of Legal Entities, control over LLC Caterpillar Tosno and LLC Caterpillar Financial has passed to LLC PSK - New Solutions, registered in Moscow in August 2022. The main owner of the new company was Balchug Capital CJSC, which owns 99% of the shares, the remaining 1% belongs to Artem Orus. In early June, Orus also replaced Kirill Polishkin as general director of PSK - New Solutions.

Caterpillar

The transfer of Caterpillar assets to a Russian investor was approved Russia Vladimir Putin by the president at the end of 2023. In the spring of 2022, Caterpillar suspended the operation of its plant in Tosno due to sanctions and logistical problems caused by the start of a special military operation on. To Ukraine

According to Interfax, the Caterpillar plant in Tosno manufactured off-road mining trucks and hydraulic excavators under the Cat brand. It also made components for equipment that were exported to the company's European plants.^[1]

2023: PSK - New Solutions bought out Caterpillar's Russian business

At the end of November 2023, a decree signed by Russian President Vladimir Putin was published on the sale of Caterpillar's Russian assets to PSK - New Solutions. The perimeter of the transaction includes the Caterpillar Tosno plant and the Caterpillar Financial leasing company.

According to the SPARK-Interfax system, PSK - New Solutions was registered in Moscow on August 22, 2022. By the end of November 2023, Kirill Polishkin (99%) and Jan Weizman (1%) own it through Romuald LLC. Previously, Kirill Polishkin served as Deputy Director of the Department for Work with the Largest Clients of Sberbank CIB JSC, and Jan Weizman - Managing Director and Head of the Department for Work with Clients of Metallurgy and Mining of Sberbank.

Vladimir Putin signed a decree on the sale of Caterpillar's Russian assets to PSK - New Solutions

Denis Kudryavtsev, general director of the Spetsavtoprom association, in a conversation with the publication, called the purchase of the Caterpillar plant a good investment, taking into account the large discount at which the Russian assets of the departed foreign companies are sold.

There is relatively new equipment left on it, but we just now do not have enough production facilities, "he explains. At the same time, he considers it unrealistic to resume production of Caterpillar without access to suppliers. "Perhaps there is an option among Chinese mine dump trucks that can be localized," Kudryavtsev said.

In his opinion, you can use the plant for the production of elementary components for the service, but nothing more - "for example, there was no foundry at the plant, and when servicing the excavator, the track is actively worn," he says. Denis Kudryavtsev believes that the plant can be sold to a production company in the future, as it was with the assets of Volvo AB in Kaluga.^[2]

Notes