Court seizes shares and assets of Novorossiysk cement plants
These cement plants are vital economic assets and major employers for the city of Novorossiysk.
The Arbitration Court of Krasnodar Krai has seized the shares and assets of Novoroscement, one of the largest cement producers in southern Russia. The ruling was issued on 28 January 2026 in response to a lawsuit by the Deputy Prosecutor General of the Russian Federation.
The seizure was imposed as part of a case concerning deals that the prosecutor«s office deems illegal. According to the supervisory authority, control over the cement plants» assets was established through these deals in violation of the law. Along with Novoroscement, the Verkhnebakansky Cement Plant has also been subjected to security measures.
Novoroscement is one of Russia«s largest cement producers and a city-forming enterprise in Novorossiysk. The company has been operating for over 130 years and produces various types of cement used in residential, industrial, and infrastructure construction.
Revenue in 2024 was approximately 31.16 billion rubles (about $312 million at current rates). Net profit was around 2.83 billion rubles (about $28.3 million at current rates). 100% of the shares are owned by Aktualnye Investitsii Joint Stock Company (JSC). General Director: Oleg Ivashchenko.
The court has seized the companies« shares, their property and cash, as well as stakes and assets of related structures. The share registrar has been prohibited from making any changes to the shareholder registers. Moreover, the enterprises have been ordered to transfer revenue from product sales only to accounts in Russian banks. Additionally, settlements and other obligations between the plants and their beneficiaries have been suspended.
The Verkhnebakansky Cement Plant is another major production facility near Novorossiysk, specializing in the production of cement and building materials.
Revenue in 2024 was about 14.36 billion rubles (approximately $144 million at current rates). Net profit was 3.24 billion rubles (about $32.4 million at current rates). It is also controlled by Aktualnye Investitsii JSC through a corporate structure.
The Prosecutor General«s Office is seeking to have the deals concluded in 2019 declared invalid, including the agreement on the establishment of Aktualnye Investitsii JSC, through which ownership of the plants was formalized. The authority insists on transferring the share packages of Novoroscement and the Verkhnebakansky Cement Plant to state revenue. The total value of the disputed assets exceeds 45 billion rubles (about $450 million at current rates).
According to the prosecutor«s office, until autumn 2019, Novoroscement was fully owned by the Cypriot company Chevre Investments Limited. Later, the shares were transferred to the charter capital of Aktualnye Investitsii JSC, which became the subject of the court proceedings. A preliminary hearing in the case is scheduled for 12 February.
