LSR Group (LSRG2), the property developer and maker of building materials controlled by Russian billionaire Andrei Molchanov, signed a 30 million-euro ($47 million) order with Germany's Tecton GmbH Keramikanlagen for a ceramics production line.
Tecton will manufacture and install the line at a factory being built by LSR near St. Petersburg, St. Petersburg-based LSR said today in a statement by the Regulatory News Service. The line will produce 25 million ceramic products a year when it becomes operational in 2010, LSR said.
``This production line is intended for house-building, which is developing rapidly in Russia,'' Sergey Begoulev, chief executive officer of LSR's Pobeda unit, said in the statement.
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