Segezha Group, one of the largest Russian vertically integrated timber holdings, plans to consolidate Novoeniseysky LHK, a major forest chemical asset in the Krasnoyarsk Territory, where it intends to build a 1 million tonne pulp and paper mill.
On May 21, Segezha group announced that it had signed an agreement to acquire a minority stake in Tegli Holdings Ltd, which owns 100% of the shares in the Novoeniseysky LHK. The transaction is expected to be closed by July 31, 2021 if the terms of the agreement are met.
Thanks to the deal, Segezha Group will be able to fully consolidate NLHK and integrate the asset into the group.
At present NLHK remains one of the largest closed-cycle woodworking enterprises, located in the city of Lesosibirsk, Krasnoyarsk Krai. Annual estimated felling - 2.2 million cubic meters of wood. The complex produces fuel pellets with the capacity of 60,000 tonnes, while MDF - 20 million square meters.
As Mikhail Shamolin, head of the Segezha Group, explained to the Russian business paper Kommersant, the Krasnoyarsk Territory is the company's most important hotspots in the formation of modern deep wood processing plants in the Siberian region. According to him, the company intends to create a "state-of-the-art high-tech production cluster that will provide comprehensive processing of all types of timber.
By: Eugen Gerden