"The idea was to bring the latest facade technology to this country," Galvstroy Director General Artur Markaryan told journalists.
Pavel Vishnyakov, managing director at Glavstroy Engineering, a Glavstroy subsidiary, said the facade business occupied one of the largest niches in the construction market.
"Glavstroy and Fahrni have virtually identical portfolios in the facade business," Vishnyakov said.
The businessman said the purchase would allow Glavstroy to find solutions to large-scale projects in Britain and Russia, create a unified logistics base and promote construction engineering in Russia.
"We expect to receive three to four large facade projects in Russia soon," he said referring to projects in Moscow, Yekaterinburg in the Urals and Sochi, where construction is underway for the 2014 Winter Olympics.
Vishnyakov also said the acquisition would tentatively allow Glavstroy to double its sales in Britain.
Vishnyakov said negotiations were currently underway for around 15 projects worth a total of 100 million euros ($157 million).
Established in 1923, Fahrni Fassadensysteme AG is a leading provider of technically advanced aluminum-glass facades. The company entered the British facade market five years ago, and is seeking to enter Ireland, where it already has six projects in the capital, Dublin.
