A 53% stake in corrugated board and tissue paper manufacturer Angren Pack in Uzbekistan is changing hands. Nikol-Pack is the company's new majority shareholder.
Russian company Nikol-Pack has acquired a majority stake in Angren Pack with the aim of expanding its position in the Central Asian market. The company based in Uchaly in the Republic of Bashkortostan announced it had acquired a 53% stake in Angren Pack, which is the leading paper company in Uzbekistan
Angren Pack describes itself as the largest manufacturer of cardboard and corrugated board packaging in Central Asia. The company also produces toilet paper, napkins and paper towels. The production capacity is put at 100,000 t of paper and 120 million m² of corrugated board per year.
The company has been a joint stock company with foreign investments since 2011, when Paper Mill Holding acquired a majority stake from former shareholder Sanoatqalinqogozsavdo. The Czech Paper Mill Holding now sold this stake to Nikol-Pack. The companies do not provide details of the transaction.
Nikol-Pack has production facilities at its headquarters in Uchaly, and in the regions of Novgorod, Vladimir, Moscow and Ulyanovsk. At its five production sites in Russia, the company has production capacities for paper and board of more than 250,000 tpy.