Karelia Pulp and Segezha Group Plan to Develop WCC Karellesprom

After signing the purchase and sale agreement for shares of WCC Karellesprom PJSC between Karelia Pulp LLC and the Ministry of Property and Land Relations of the Republic of Karelia, the forest holding will receive another full co-owner — Karelia Pulp LLC.

43.88% of the shares are owned by Segezha Group of Forest Companies (part of Sistema JSFC). After all the necessary procedures are completed, Karelia Pulp LLC will become a new full-fledged owner of the block of 43.88% shares of WCC Karellesprom PJSC.

At present both papermaking giants in the Republic of Karelia plan to discuss further interaction regarding the development of their joint asset. The success of their joint work will determine the future of not only the Kondopoga PPM and the development of the Segezha PPM, but the socio-economic position of the Republic of Karelia overall.

Effective and sustainable development of the forest industry will help us create conditions for implementing new projects and provide an impetus for development of the entire region.

“We are interested in starting a constructive dialog and establishing mutually beneficial cooperation with co-owner companies and the Government of the Republic of Karelia. Partnership relations that have been established between Karelia Pulp and Segezha Group over many years in the same industry, similar modern approaches to doing business, and understanding of the importance of taking care of the environment and social responsibility in our regions of operation will allow us to reach full understanding of our enterprises’ need in forest materials in the shortest possible time. I am confident that productive cooperation of two leading companies and the government of the Republic of Karelia will help us develop the wood industry in the region further,” Yuri Ayvazov said.

Mikhail Shamolin, President and Chairman of the Board of Segezha Group, said: “We must work together on finding the most effective approaches to developing the forest raw materials base for WCC Karellesprom. We will be introducing the intensive model for use of forests and reforestation more actively as well as add modern methods of managing and controlling the turnover of wood.”

Mikhail Shamolin also added that Segezha Group was interested in harmonious development of the forest sector of Karelia and creating the full-fledged forest industry cluster.

“To develop the forest industry cluster in the region, the major players on the market must cooperate. As the anchor investor in Karelia, we will continue cooperating with Karellesprom and the Government of the Republic,” the president of Segezha Group said.

Источник: Segezha Group