Balchug Capital acquired Syktyvkar Plywood Mill LTD, one of the largest Russian manufacturers of wood-based panels.
The amount of the transaction is not being disclosed. 8ft timber peeling machine double roll drive
The source of funding was a syndicate of Armenian banks.
The transaction was approved by the Government Commission on Monitoring Foreign Investments in the Russian Federation.
Balchug Capital is implementing its previously announced strategy of investing in high-quality and liquid assets in the real sector of the economy.
Syktyvkar Plywood Mill LTD is a new direction that is planned to be developed further by modernizing the production site and expanding the product line to supply the domestic market and for export.
Work on the development of the company's own brands, large-format plywood products under the trademark “SyPly” and laminated boards “Lamarty”, will also continue.
Balchug Capital was founded in 2010 by David Amaryan. The company manages assets amounting to about $2 bln.
Syktyvkar Plywood Mill LTD is one of Russia's largest producers of wood-based panel materials. The company specializes in the production of large-format plywood products and laminated chipboard. Currently, the mill has an annual production capacity of more than 230 thousand m³ of plywood and 300 thousand m³ of chipboard. The sales volume of edgebanding is about 6 million running meters annually. The company employs about 1,400 people.
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