Financial and Industrial Union Sibkonkord notifies of the false information spread in Russian and Western mass media

Europe Uncategorized

On May 26, 2012 a publication «RUXX: Western Companies Appeal to Russian President To Curb Corruption» was posted on the Russian Industrial Leaders Index (RUXX) site, also spread in a form of a press release on a commercial basis.

It contained information that does not correspond to reality and discredits the reputation of OJSC “HC “Sibcem” (“Sibirskiy Cement”) to which “Sibkonkord” is a shareholder.

For example, this publication states that Italcementi Set Group sent a letter to the President of Russia V.V. Putin with a request to interfere in the arbitration proceeding between Italcementi Set Group and “Sibcem”.

In fact, there is no litigation between “Sibcem” and Italcementi Set Group. Russian arbitrazh courts entertain a claim of “Sibkonkord” against Ciments Français and “Sibirskiy Cement” for annulment of contract of purchase of Ciments Français Turkish cement assets, dated 26.03.2008, and repayment of deposit of 50 mln. Euro.

The interpretation of the litigation between “Sibcem” and Ciments Français, presented by RUXX, reflects in an offensive and distorted form the position of only one party of this proceeding.

The comment of “RUXX analyst Ilya Lushnikov”, given in the publication, contains not only unfounded accusations in corruption against the executives of “Sibcem”, Russian and foreign judicial authorities, but also unreliable economic information. Thus, OJSC “Angarskcement” is not a “subsidiary of “Sibcem”. In fact, “Sibcem” holds 29,9% of shares of “Angarskcement”.

“Sibkonkord” considers it necessary to disavow the information in the RUXX publication as provocative and incorrect. On June 1, 2012 Italcementi Set Group issued a formal appeal to Russian and foreign mass media after the RUXX publication. It says: «Italcementi Group refers to false and unsubstantiated rumors that have recently appeared on Russian press concerning alleged communications addressed to Russian political authorities seeking their support in the pending litigation in Russia with Sibirskiy Cement. Italcementi Group denies that it has in any way – directly or indirectly – contacted political authorities in Russia». This quote was published on the RUXX site as a “correction” to the scandalous article (

FPS “Sibkonkord” is sure that Italcementi Set Group and Ciments Français are not involved in this incident which is, in our opinion, initiated by third parties in order to discredit the reputation of “Sibcem”, influence the international public opinion and Russian judicial authorities.