RusBankrot
We know everything about bankruptcy
05/12/2025
Friday
THIS DAY IN HISTORY:
5 December 
1936 The Stalinist Constitution of the USSR was adopted.
1936 the Stalinist constitution of the USSR was adopted.
1484 Pope Innocent VII initiated the "witch hunt".
1456 An earthquake that destroyed Naples occurred - 35 thousand people died.
1456 occurred an earthquake that destroyed Naples - 35 thousand people died.
5 December
1936 The Stalinist Constitution of the USSR was adopted.
1936 the Stalinist constitution of the USSR was adopted.
1484 Pope Innocent VII initiated the "witch hunt".
1456 An earthquake that destroyed Naples occurred - 35 thousand people died.
1456 occurred an earthquake that destroyed Naples - 35 thousand people died.
KOTOVSKY PAINT AND VARNISH FACTORY FOUND AN INVESTOR
Kotovsky Paint and Varnish Plant has been undergoing insolvency proceedings for over 13 years. Recently, the capital firm F.DM acquired a controlling stake in the company. The transaction amount was 30 million rubles. At the same time, 71% of the plant's shares were sold by one of VEB's structures.
The plant itself has a debt of about 800 million rubles. Despite years of financial difficulties and bankruptcy, the plant continues to be an important object for investors.
According to sources, the main representative of the buying company expressed interest in buying the company almost three years ago. Yuri Sopov offered to buy shares of the plant directly, but all attempts were met with a refusal to conclude a deal from the ex-managers of the Kotovsky Paint and Varnish Plant.
The former head of the Tambov region, Maxim Egorov, also rejected Sopov's proposal. The situation was changed only after the change of the head of the region. After Evgeny Pervyshov took over this position, the shares of the plant were put up for auction. At the same time, the transaction was executed at the initial price, since no other applications for the purchase of the lot were received.
Kotovsky Paint and Varnish Factory traces its history back to 1966. The company was engaged in the production of varnishes, paints and resins. However, by now, production has significantly decreased. The plant produces only 1 thousand tons of goods instead of the estimated 70 thousand tons. It is expected that in order to withdraw the plant from the insolvency procedure, it will be necessary to invest about 600 million in its development. It will also take at least 2 years to complete the process.
The organization is registered in Kotovsk. The company's balance sheet includes a significant area (about 58 hectares) in the industrial zone. However, after years of bankruptcy and management problems, the plant was on the verge of liquidation. In 2021, the company's revenue amounted to only 47.4 million rubles, and the net loss was 21.8 million. Last year, it was decided to sell a controlling stake, and as a result, VEB sold its stake.
The bankruptcy procedure of the Kotovsky Paint and Varnish Plant was extended for six months in October 2023. Now its recovery from the crisis will depend on the ability of the new investor to invest in the restoration of the enterprise. Two possible options are being considered – to pay off debts at one time or to conclude an agreement with creditors. If the new owner agrees to a settlement agreement, its terms will be approved by a creditors' meeting. The duration of the transaction may be about five years.
Experts note that the paint and varnish materials market is currently showing growth. This can be a positive factor for the restoration of the plant. In 2024, the market grew by 13% compared to the previous year, but the prospect of further market growth remains questionable due to a reduction in the construction of new residential and retail facilities. Building renovation and maintenance programs remain an important source of demand, but the construction boom of previous decades is unlikely to be repeated.
Kotovsky Paint and Varnish Plant may hope to recover, but this will require not only significant investments, but also time to overcome the consequences of years of bankruptcy and rebuild the business taking into account current economic conditions.
The plant itself has a debt of about 800 million rubles. Despite years of financial difficulties and bankruptcy, the plant continues to be an important object for investors.
According to sources, the main representative of the buying company expressed interest in buying the company almost three years ago. Yuri Sopov offered to buy shares of the plant directly, but all attempts were met with a refusal to conclude a deal from the ex-managers of the Kotovsky Paint and Varnish Plant.
The former head of the Tambov region, Maxim Egorov, also rejected Sopov's proposal. The situation was changed only after the change of the head of the region. After Evgeny Pervyshov took over this position, the shares of the plant were put up for auction. At the same time, the transaction was executed at the initial price, since no other applications for the purchase of the lot were received.
Kotovsky Paint and Varnish Factory traces its history back to 1966. The company was engaged in the production of varnishes, paints and resins. However, by now, production has significantly decreased. The plant produces only 1 thousand tons of goods instead of the estimated 70 thousand tons. It is expected that in order to withdraw the plant from the insolvency procedure, it will be necessary to invest about 600 million in its development. It will also take at least 2 years to complete the process.
The organization is registered in Kotovsk. The company's balance sheet includes a significant area (about 58 hectares) in the industrial zone. However, after years of bankruptcy and management problems, the plant was on the verge of liquidation. In 2021, the company's revenue amounted to only 47.4 million rubles, and the net loss was 21.8 million. Last year, it was decided to sell a controlling stake, and as a result, VEB sold its stake.
The bankruptcy procedure of the Kotovsky Paint and Varnish Plant was extended for six months in October 2023. Now its recovery from the crisis will depend on the ability of the new investor to invest in the restoration of the enterprise. Two possible options are being considered – to pay off debts at one time or to conclude an agreement with creditors. If the new owner agrees to a settlement agreement, its terms will be approved by a creditors' meeting. The duration of the transaction may be about five years.
Experts note that the paint and varnish materials market is currently showing growth. This can be a positive factor for the restoration of the plant. In 2024, the market grew by 13% compared to the previous year, but the prospect of further market growth remains questionable due to a reduction in the construction of new residential and retail facilities. Building renovation and maintenance programs remain an important source of demand, but the construction boom of previous decades is unlikely to be repeated.
Kotovsky Paint and Varnish Plant may hope to recover, but this will require not only significant investments, but also time to overcome the consequences of years of bankruptcy and rebuild the business taking into account current economic conditions.
31.01.2025
