world news - 20.03.2003
Continental Management Timber Industry has earmarked $77 million to upgrade its Eniseiskiy plant in Russia's Siberia region
The main focus of the investment program will be an overhaul of
the Eniseiskiy plant's newsprint PM and a board machine. Continental Management
also plans to launch production of kraftliner at the facility. The mill houses
six machines which can produce 35,000 tonnes/yr of newsprint, 20,000 tonnes/yr
of printing/writing paper, as well as fluting and wallpaper base paper. The
units are fed by a 100,000 tonne/yr unbleached kraft pulp line.The Eniseiskiy
plant is located in Krasnoyarsk by the Volga river and was previously known as
Krasnoyarsk Paper Mill. The state-owned outfit went bankrupt in June 2001 and
operated under the name of Sibirsky Paper Mill until October 2002.
Continental Management began takeover proceedings in March last
year and completed the process in October. The company paid $5 million including
debt for the mill.Continental Management is Base Element's holding company for
its forest products assets. The company also owns the Baikal Pulp and Paper Mill
and the Selenga containerboard mill. Base Element launched a hostile takeover of
Ilim Pulp Enterprise's Kotlas mill in the middle of last year.
See also:
- — Japan plywood market in March
- — AUSTRIA: Austrian Forestry Authority To Expand Operations under Restructuring Programme
- — DENMARK: Danske Equities Downgrades Danish Brdr. Hartmann to «Sell» After 2002 Report
- — West African Timber Prices
- — Poland: 3rd Timber Industry & Forest Resources Management Fair
