ukrainian news - 11.03.2005
Problematic stock of Rubezhansky Mill
Middle February, the representatives of Rubezhansky Cardboard and Packaging Mill filed a lawsuit, disputing the illegal sale of the mill’s 20% stock at Ukrainian Stock Exchange last autumn as the bourse neglected the prior right of the mill for the stock. Moreover, the mill did not get back UAH 13 million auction guarantee fee (app. $2.5 million) despite of court decision dated November 8, 2004. The fact may have negative impact for mill’s investment program.
The State Holding Company Ukrbumprom (the seller of the stock) insists that the deal was legal, though does not give any comments as for the delay with guarantee fee or prohibition for the mill to take part in the auction, pointing out that the questions are in the competence of Ukrainian Stock Exchange.
The statutory fund of the State Holding Company Ukrbumprom includes share holdings of pulp and paper joint stock companies. In 2004, it sold the shares of Lvovkartonplast (26%), Izmail Pulp and Cardboard Mill (18.5%), Malin Paper Mill. By now, Ukrbumprom controls 36% of Poninkovsky Cardboard and Paper Mill and 30% of Dnepropetrovsk Paper Mill.
Paper&Life
See also:
- — Ukraine: New UPM dealer
- — Odessa trade seaport (Ukraine) increased timber cargo trans shipping 53.3% to 9.2 thousand tons in January-February 2005 compared to January-February 2004.
- — Newsprint production by Ukrainian enterprises up 5.3% in February 2005
- — INTERNATIONAL FURNITURE FORUM: 10-14 MARCH 2005
- — Ukraine: Import duties for paper to be unified?
