History of the Company

On August 2, 2006 Mikhail Ushakov registered the company Terwingo in St. Petersburg, Russia.

He created the company with the goal of implementing several industrial projects founded on contemporary innovative technologies.

In September of 2006, Terwingo commenced its first large project, creating the Albania Chrome, a joint venture with Austrian metallurgical trader Decometal. In accordance with the Albanian government’s concession agreements, control of Albania Chrome and the сhromium Albanian industry as a whole (including mine in Bulchiza and two ferrochrome plants in the cities of Elbasan and Burel) was transferred. Over the period of 2 years Terwingo and its team of Russian experts invested more than 30 million euros in renovation both the plants and the mine, expanding their production capacity. In March of 2009, Terwingo decided to withdraw from the project, selling all of its shares with profit.

From September 2006 to the present Terwingo has managed OOO New Technologies, a company specializing in the production of modern crushing and grinding equipment used in the mining and construction industries. From December 2011 New Technologies is only R&D company focuses on crushing and grinding technologies development.

From September 2006 to the present Terwingo has been working on the Petroplasma project, which promotes plasma surface modification technology in the metallurgical industry.

From October 2009 to the present Terwingo has been managing ASK-Roentgen, the distributor of General Electric’s industrial x-ray films for the past 20 years.

In December 2009 Terwingo began developing a sawing wire production plant. It is currently a joint project venture with RUSNANO and Cutting Edge Technologies.

In December 2010 Terwingo began working on the Polycomplex project, a major food processing and logistics cluster in the Ust-Luga seaport located at the entry of the Gulf of Finland.

Terwingo is the controlling majority shareholder in its sister companies, while all of them act as separate and independent business units. Project teams are made up of experienced and professional managers, engineers, builders, contractors and consultants.

Terwingo’s main goal is to create and promote financially successful projects that utilize advanced innovative technologies both in Russia and abroad.

As of the beginning of 2012 Terwingo’s project portfolio consisted of:

• Cutting Edge Technologies, Polycomplex (all investment projects)
• Petroplasma and New Technologies (both R&D projects)
• ASK-Roentgen