ZAO Investlesprom, in which the Bank of Moscow is a shareholder, has concluded a transaction to sell CBK Kama, the Bank of Moscow announced.
The Bank of Moscow said the plant has been acquired by a group of investors headed by its General Director Sergey Starodubtsev, investment and banking services supporting the transaction were provided by FC Otkrytiye. The new owners of OAO CBK Kama are to concentrate their efforts on bringing production up to full capacity and further developing the plant, the Bank reports. The proceeds from the transaction are to be used by ZAO Investlesprom to redeem its debt to the Bank of Moscow.
OAO CBK Kama is a core enterprise for the town of Krasnokamsk. The plant was reconstructed between 2007 and 2011, during the course of which Russia’s first production unit for light art paper was set up at the plant using a unique technology developed by the company’s specialists. The first tonnes of commercial quality paper were produced in November 2011. The paper production design capacity is up to 86,000 metric tonnes of light-weight coated paper a year.
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