world news - 21.11.2002

Ilim Restructuring

ST. PETERSBURG (Prime-Tass) -— St. Petersburg-based timber holding Ilim Pulp Enterprise plans to present completed reorganization plans to shareholders by April 2003, the holding's chief managing director, Mikhail Moshaishvili, said Wednesday.
The reorganization, uniting all the holding's companies into a single structure, would be completed in 2004, he said.
The structure would be divided into four united entities including processors of lumber and wood products, pulp and paper producers, industrial packagers and producers of packaging material, Moshaishvili said.
"We intend to enter further into the wood-processing sector by maximizing the production capacity of our wood-processing companies and by creating new enterprises," he said.
The Moscow Times.

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