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Karjala Pulp purchased 43,88% shares of PJSC Karellesprom

Karjala Pulp purchased the shares of PJSC Karellesprom on the auction held on September 18. Applications for participation in the auction had been accepted from August 14 to September 12, 2019. Karjala Pulp offered the best price and was announced a winner.

The acquisition of the shares will partially solve the issue of the raw material safety for the Kondopoga Pulp and Paper Mill, create the necessary conditions for realization of the new investment projects, and will strengthen the position of Karjala Pulp LLC as the largest newsprint exporter in Russia.

We want to achieve new volumes of production of our main products, increase the production of semi-finished products, corrugated paper, and other types of paper and, as a result, become one step closer to completing the bankruptcy procedure of the Kondopoga Pulp and Paper Mill.

“Karellesprom will help us realize our plans and is a real investment in the future of both the Kondopoga mill and Karjala Pulp ,” said Yuri Aivazov, General Director of Karjala Pulp.