WITH THE ACQUISITION OF ONEGA SAWMILL AND LOGGING ENTERPRISES OF “PLO ONEGALES” INVESTLESPROM HOLDING WILL BE THE LARGEST ONE IN RUSSIA
On the 7.November this year the procedure of acquiring of shares of nine companies, i.e. OAO “Onega Sawmill” (Arkhangelsk region) and a group of logging companies under “PLO Onegales” management, by InvestLesProm holding has been completed. The shares of the sawmill and logging companies were bought from OOO”Forest” which had consolidated the companies assets.
On November, 2 in Vologda there was held a meeting with participation of representatives of Vologda region Government and JSC “Investlesprom”. During the meeting they discussed prospects of long-term cooperation between Vologda region and largest forest industry complex of Russia.
Among participants of the meeting there was first deputy governor of Vologda region, chief of economy department, L. G. Iogman, deputy governor of Vologda region, chief of forest complex department, V.V. Grachev, general director JSC Investlesprom, D.V. Maslov, managers of divisions, subdivisions and enterprises of the holding.
The second stage of JSC Investlesprom’s investment program assumes the growth of own logging at leased territories up to million cubic meters per year.
According to concluded on October, 10, Agreement between Bank of Moscow, Republic of Karelia and JSC Investlesprom, leased forest lands (Segezha, Medvezh’egordk, Belomorsk, Muezersk regions) are in expect for logging and processing volumes increase.
JSC “Sokol’scky PPM” issued first sets of new products – top-liner and light greaseproof paper.
In October JSC “Sokol’sky PPM” by the order of Marketing and sales service of PPI division produced first sets of top-liner – cardboard for flat layers of corrugated cardboard with white top layer. The cardboard is put into industrial production at PM#10 of double-grid formation. Among purchasers of test sets of the new product – CJSC “GOTEK”, one of the most respectful producers of corrugated package.
In the last decade of September Forest division approved five-year investment project for logging development in LPK “Kipelovo” (Vologda, Arkhangelsk region) in the total amount of 2.1 mlrd. rubles.
The implementation of the project will let LPK “Kipelovo” to increase logging volumes by 15 percent to current level – this will make more than 1 mln. cub.m. of wood per year. It expects purchasing new harvesting complexes, transport and equipment for raw materials removal, construction and roads maintenance. Significant funds (more than 400 mln. rubles) are planned to be directed to forest roads construction.
On 21st September in Zwaag near Hoorn, Netherlands took place solemn opening of new plant on production of paper sacks. The plant, consisting of three automated sack production lines and 16-color printing machine, belongs to Segezha Packaging (division «Paper Sacks» of forest industrial holding «Investments For Forest Industry»).
On August,
17, 2007 Investlesprom holding company enlarged by one more wood harvesting and
sawing enterprise: LLC “Medvezh’egorsky LPH” (MLPH) purchase transaction was
completed. Investments into new project will exceed 600 mln. rubles during two
years (including modernization of sawmill, wood harvesting and road equipment
and credits restructuring).
By results of the first half of 2007 segezha’s loggers (Forest division, Investlesprom holding) managed to harvest 210 thous. cub.m. and to remove 209 thous. cub.m. of wood that constituted 115 percent of last year similar period level. Wood harvesting increase was achieved in compliance with FSC sustainable forest management requirements and standards. At the end of July 2007 the auditing company “SGS Vostok Ltd” made an inspection audit at the territory of Segezha PPM forest land lease for compliance with sustainable forest management criteria.
National Forest industry Company was acquired by “Investlesprom” holding from Sputnik group which concentrates its resources at insurance and financial business development.
On July, 26, 2007 Investlesprom entered into agreement with investment company Sputnik group of full share holding purchase of one of its assets — National Forest industry Company (NLK).
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