“Angstrem-T” project of the ex-Minister of communications Leonid Reiman on the creation in Zelenograd manufacture of integrated circuits received bankruptcy claims. The main creditor of the project, VEB, performs the audit of the company to determine further action
With the statement for bankruptcy “Angstrem-T” in the Moscow Arbitration court asked the company “high Tech Engineering”, the filing of cases. After submitting the application as the plaintiff joined the “Smartpark”: back in February, according to Medresurs, the company has notified “Angstrem-T” on intention to address in court with the statement for bankruptcy.
The project “Angstrem-T” appeared in 2005 and, according to the description in its reporting documents for 2007, was initiated by the President of Russia and supported by the security Council and the government. Its essence — creation of Zelenograd of the first Russian contract production of integrated circuits with design rules 130-90 nanometers (nm) and with the prospect of development and the transition to the 65 nm level (scheme is used, in particular, for the production of smartphones, tablets and other electronics). “Angstrem-T” sees itself as Russia’s first system, the company is ready to provide the customer with a full range of services — from design and prototyping to production”, — was stated in the project description.
“Angstrem-T” start with the part of the parent company — JSC “Angstrom”, which specializiruetsya for the manufacture of products primarily within the framework of the state defense order, such as “Roscosmos”, “Rosatom” Corporation “Tactical missiles” and other organizations. Since the 1960s, JSC “Angstrom” and have its own production in Zelenograd: it is, in particular, produced integrated circuits “Path” and “Ambassador” for the space station, managed to fly to the moon, as well as handheld game “Elektronika” (“Nu, pogodi!”).
Medsi clinic buys former Minister of communications Leonid Reiman
Who is the owner of both companies “Angstrem” and “Angstrem-T” — for a long time was not disclosed, but market participants connected them with the former Minister of communications and information technologies Leonid Reiman (held this position since 1999, when it was the Ministry of information technologies and communication until 2008). Now, according to SPARK, Reiman was a beneficiary of “Angstrem-T” (in particular, through the Cyprus “Runes investments Ltd” and LLC “Alternative Capital”). JSC Angstrem did not disclose the actual shareholders ‘ structure: in the list of affiliated persons of the company only indicated that 25% of the company belongs “to a daughter” GK “rostec” — “Roselektronika”. According to the representative “Roselektronika” other shareholders “Angstrom” are owned by AFK “System” “RTI Microelectronics” (10,9%), another structure Rostec “NIIRK-invest” (4,99%) and Group “Angstrom” Leonid Reiman (0,5%). Controlling stake (51%) is in the National settlement Depository, the composition of its owners is not disclosed, and the remaining shares — unidentified persons. Of the seven members of the Board of Directors “Angstrom” in 2017, three were associated with the structures of the former Minister: employee of the “Alternative Capital” Ekaterina Istomin, former General Director of “Angstrem-T” Konstantin Nosov and employee “Belintegra” (belongs to “the Alternative Capital”) Alexander Shumsky.
(Photo: Peter Kovalev / TASS)
The original plan of the project “Angstrem-T” included putting the complex into operation in 2010 and the production volume at the level of 9-11 billion rubles in the year since the first year of operation. But at the time the plant was started was not — the commercial launch of the project took place only in August 2016. “After several years of difficult construction, the purchase of necessary equipment, establishing production processes we now actually see the transition of the production”, — noted then attending the opening of the complex, the head of the Ministry Nikolai Nikiforov.
On the first contract “Angstrem-T” became known in may of this year: within the last St. Petersburg international economic forum distributor of high-tech products of Zhejiang Sirius Semiconductor Co., Ltd agreed with the Russian company for the delivery to China of microelectronics for smartphones, tablets and other consumer electronics. The total amount of contracts — $36 million Scope of supply — 10 thousand plates a month, the duration of a contract until 2020 with possibility of prolongation.
It was financed through a loan from Vnesheconombank in the amount of €815 million, the Interest rate thereon was 8.5% per annum and is valid until 31 December 2027. It was assumed that “Angstrem-T” will make the first payment on the loan of VEB amounting to €400 thousand at the end of December 2014, and then every six months will pay €35 million until the end of 2027. But the terms were adjusted several times. In 2015, the representative of the company stated that the first payment should take place in June of the same year. The last time the Supervisory Board decided to change the start date for principal repayment “Angstrem-T” in July 2017, said in a statement. The new date and amount of payment were not mentioned.
According to the source RBC, close to the company, the payment was postponed to July 2018. Two sources familiar with the situation said that now the Bank carries out audit of “Angstrem-T”, and the decision about his fate will be taken in August. Request for quotations for conducting financial and technical audit of the Bank published in may. According to SPARK, as security for the loan as collateral to VEB are the plant equipment and the building itself. In a press-service of the Bank declined to comment.
The revenue of “Angstrem-T” in 2016 (the latest available data under RAS) amounted to 56.6 million rubles., net profit of 10.09 million RUB the Company is a defendant in 52 lawsuits in the amount of 458,5 million RUB Both addressed with the statement for bankruptcy of the Contracting companies “Angstrem-T” has already been received by the court the right requirements. “High Tech Engineering”, the company has 6.7 million RUB, doing connection handling systems, “Smartpark” (4.6 million rubles) performed work related to the expansion of the functionality of payment cards “the World”.
“Contracts cannot be considered as method of repayment. It is obvious that the enterprise which has just been launched, is unable to provide stable cash flow. This issue should be resolved by the shareholders”, — says head of the Association of developers and manufacturers of electronics Ivan Pokrovsky. He warns that bankruptcy benefits no one, including creditors. “In the current lineup established, started production. In case of bankruptcy of the investment that was made, just worthless, since the reorganization will take years,” he said.
Representatives of the “Smartpark”, “high Tech Engineering” and “Angstrem-T” refused to answer claim related questions RBC.