Smikom Holding May Acquire Vostokcement from Ex-Mayor Pushkarev

The large holding company Smikom wants to acquire the assets of concrete producer Vostokcement, which was previously owned by convicted ex-mayor of Vladivostok Igor Pushkarev. According to the publication Kommersant, Smikom«s general director Vyacheslav Shmakov has appealed to Prime Minister and Presidential Envoy to the Far Eastern Federal District Yury Trutnev with a request to support the privatization.

Vostokcement has existed since 1997. The holding includes three full-cycle cement plants and four crushed stone plants with total capacities of 3.5 million tons and 3.7 million tons per year, respectively. The facilities are located in the regions of the Far East. The enterprise holds 5.7% of the Russian cement market and is considered the largest concrete producer in the Far Eastern Federal District. According to the service Kontur.Focus, Vostokcement«s revenue for 2024 amounted to 885 million rubles (approximately $9.8 million at current rates), and net profit was 46.8 million rubles (approximately $520,000 at current rates).

The Smikom Group was founded in 2006 and is among the leading Russian producers of construction materials and components. One of the main companies is Cementros, the largest cement producer in Russia, which includes 18 plants and 30 quarries in 13 regions, and whose general director is also Vyacheslav Shmakov.

In a letter to Trutnev, Smikom proposed to consider itself as a candidate for managing Vostokcement, which, according to the holding, has difficulties fulfilling obligations to suppliers, paying salaries and taxes.

Vladimir Guz, an expert at the business consulting company SMPRO, emphasized that the cement market in the Far East is small and difficult to work with, but if Smikom acquires the assets of Vostokcement, it will solidify its status as one of the largest concrete producers, since the company currently has no facilities in the Far Eastern Federal District.

In April 2019, the Tverskoy Court of Moscow sentenced Pushkarev to 15 years in a strict-regime colony and fined him 500 million rubles (approximately $5.6 million at current rates) in a case of corruption and abuse of official powers, and in July 2022, a court in Vladivostok found Pushkarev guilty under the article on abuse of official powers and sentenced him to 5 years in a colony. The total punishment, taking into account the previously issued sentence, was 15 years and 3 months in a strict-regime colony.

Later, information appeared that Pushkarev signed a contract with the Ministry of Defense and went to the special military operation.

In September 2025, the General Prosecutor«s Office of the Russian Federation filed a lawsuit against companies associated with convicted former mayor of Vladivostok Igor Pushkarev, his family, and people close to him. At that time, the corresponding card appeared on the portal of courts of general jurisdiction in Moscow.

The defendants in the lawsuit turned out to be several individuals and more than 20 companies, including companies of the Vostokcement and Renaissance groups. The total value of Vostokcement and Renaissance, according to the General Prosecutor«s Office, exceeds 79 billion rubles (approximately $877 million at current rates), their annual revenue is more than 51 billion rubles (approximately $567 million at current rates), and net profit is 5.4 billion rubles (approximately $60 million at current rates). Later, for an unnamed reason, most of the companies disappeared from the list of defendants.

As a result, on September 23, the Tverskoy District Court of Moscow confiscated property worth 79 billion rubles (approximately $877 million at current rates) belonging to Pushkarev«s family and trusted persons. At the same time, representatives of Vostokcement from the very beginning of the legal proceedings commented on the course of the investigation and reported that they are working stably, and employees are receiving salaries.

«The plants of Vostokcement continue their activities in normal mode. Our priority tasks are ensuring uninterrupted operation of the enterprises, maintaining stability and efficiency of production processes. Consumers will be provided with all necessary construction materials in accordance with our obligations,» the company«s press service reported.

On October 23, shares in several of Pushkarev«s companies, including in Vostokcement, were transferred to the state. At the same time, the former mayor can still file an appeal.