07.28.23
Yaroslavl, Russia
www.ruskraski.ru
PRIVATE COMPANY; YEAR ESTABLISHED: 1838
REVENUE: $148 million
MARKETS SERVED
Decorative and building materials; Automotive OEM; Car refinishes; Industrial materials; Powder coatings
KEY EXECUTIVES:
Abramov Valeriy, CEO; Savelyev Phillip, director of economics; Maksimov Leonid, coatings technical director.
A subsidiary of Industrial & Investment Group Spektr, Russian Coatings is focused on five primary markets: industrial (25% of sales); auto refinish (24%); powder (24%) architectural coating (22%), and automotive OEM (4%). Overall sales growth was 21%, which was impressive, and Russian Coatings CEO Valery Abramov said he was proud of how Russian Coatings overcame all of the challenges the company faced.
“The year 2022, despite the geopolitical situation, was relatively successful for Russian Coatings,” Abramov observed. “There is definitely something to be proud of and this is evidenced by both the final figures and the projects implemented despite all the difficulties in 2022. And although during the year the company's enterprises produced fewer tons (-13%), sales growth in money terms (USD) increased by 21%. This allowed not only to raise the employees' salaries but also to pay a year-end bonus. The overall result always depends on all processes: sales, production flexibility, logistics, and personnel are important.”
For the most part, Russian Coatings’ key markets showed a steady increase in sales, with industrial materials up by 21%, automotive repair materials increasing by 10%, finishing materials by 28%, and powder paints by 40%. Serious decline was observed in the OEM segment.
“The failures were mainly caused by difficulties in supplying raw materials for coatings production and by the fact that car plants reduced their production and could not operate at full capacity,” Abramov said. “Therefore, by the end of the year it was not possible to fully recover the production volume of the last year's paint materials, and the volume of sales had also decreased. The construction segment of industrial coatings developed most successfully.”
www.ruskraski.ru
PRIVATE COMPANY; YEAR ESTABLISHED: 1838
REVENUE: $148 million
MARKETS SERVED
Decorative and building materials; Automotive OEM; Car refinishes; Industrial materials; Powder coatings
KEY EXECUTIVES:
Abramov Valeriy, CEO; Savelyev Phillip, director of economics; Maksimov Leonid, coatings technical director.
A subsidiary of Industrial & Investment Group Spektr, Russian Coatings is focused on five primary markets: industrial (25% of sales); auto refinish (24%); powder (24%) architectural coating (22%), and automotive OEM (4%). Overall sales growth was 21%, which was impressive, and Russian Coatings CEO Valery Abramov said he was proud of how Russian Coatings overcame all of the challenges the company faced.
“The year 2022, despite the geopolitical situation, was relatively successful for Russian Coatings,” Abramov observed. “There is definitely something to be proud of and this is evidenced by both the final figures and the projects implemented despite all the difficulties in 2022. And although during the year the company's enterprises produced fewer tons (-13%), sales growth in money terms (USD) increased by 21%. This allowed not only to raise the employees' salaries but also to pay a year-end bonus. The overall result always depends on all processes: sales, production flexibility, logistics, and personnel are important.”
For the most part, Russian Coatings’ key markets showed a steady increase in sales, with industrial materials up by 21%, automotive repair materials increasing by 10%, finishing materials by 28%, and powder paints by 40%. Serious decline was observed in the OEM segment.
“The failures were mainly caused by difficulties in supplying raw materials for coatings production and by the fact that car plants reduced their production and could not operate at full capacity,” Abramov said. “Therefore, by the end of the year it was not possible to fully recover the production volume of the last year's paint materials, and the volume of sales had also decreased. The construction segment of industrial coatings developed most successfully.”