PHAETON Holding Company symbolizes a new era in Russian business. The Company began over 15 years ago during the time of tremendous economic change. PHAETON survived this hard period and grew from a small company into a strong holding company.
The Company started with selling oil products. PHAETON was the first private company in St. Petersburg to develop its own network of gas stations. Unlike other companies that were after immediate profits, PHAETON focused on continuous development. The Company invested considerable money into creating and developing the gas station network, introducing new technologies and improving the quality of products and services.
As the Company grew, new specialized departments appeared. For instance, a construction company was created in 1995 to expedite construction of own gas stations. As the enterprise grew, the management became increasingly more complex. Then the decision was adopted to transform the Company into a holding company. Specialized divisions became separate enterprises providing this or that direction of business. In 1999 wholesale of oil products was singled out as a new entity, Phaeton-Aero, Ltd. In 2003 a retail chain of gas station was also transferred into ownership of Phaeton-Aero.
Today PHAETON is a large corporation in the Russian North-West. In addition to fuel, the enterprise functions in other economy sectors as well. The key to our success is the understanding that our business exists not on its own but only in cooperation with the society and functions best when meeting the society’s needs. To meet its customers’ needs, PHAETON has been working continuously to find new work directions.
The holding company includes North-Western Peat Company, Ltd. which recovers and exports peat, Phaeton Development Group, Ltd., which works on development and management of mergers and takeovers, Medtechnika, C.C. which has many years of experience in manufacturing medical equipment and devices. The Construction Service, which had previously been created to build gas stations, was in 2000 transformed into Phaeton StroyService, Ltd. , which now works in a full range of construction specializations, of every purpose and degree of complexity. Several years ago the management of the holding company decided to develop the agricultural direction. In 2003 Phaeton-Agro, Ltd. was created to become the top agricultural holding company in the Russian North-West.
Introducing effective management on the enterprises of the group allowed them to become leaders in their respective fields within a short period of time. Best practice in management and professionalism of the staff, coupled with extensive experience has guaranteed stable success of the undertaking.
PHAETON Management Company has been created to allow centralized management issues, costs and expenses and strategic planning. All important issues are discussed at meetings of the Board of Directors, and the decisions are adopted collegially.
