Cyprus-based shareholder of Novomet Group redomiciles to Russia

MOSCOW. Sept 9 (Interfax) - Novomet Oil Services Holding Ltd., one of the principal shareholders of Novomet Group, a major Russian manufacturer of pump equipment for oil production, has redomiciled from Cyprus to the special administrative region (SAR) in Kaliningrad, the Unified State Register of Legal Entities showed.

The group's new holding company is Novomet ILLC. Maxim Perelman has been appointed chief executive.

Chelyabinsk-based industrial group Konar announced in April that it had acquired a stake in Novomet and several days later it announced that Perelman had been replaced as group CEO by Ilya Tikhonov, head of the Konar industrial park in Chelyabinsk.

Novomet Group's flagship company, JSC Novomet Perm reported in its financial statements for 2023 that its parent company at the end of last year was a legal entity in Cyprus and that it did not have beneficiaries with a stake greater than 25%.

Novomet Group makes oil submersible equipment and complete rigs for oil production and water lifting, and also provides oilfield services. The group's plant, with two industrial sites, and headquarters are located in Perm and it has R&D centers in Perm and Moscow. The company also has branches in Azerbaijan and Kazakhstan.

Novomet has service centers in Russia, other CIS countries and countries outside the former Soviet Union.