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On May 31, Russian JSC Segezha Pulp and Paper Mill closed the transaction with Investment AB Kinnevik holding, having become the owner of Korsnas Packaging, www.bumprom.ru informs. The Euro 73.5 million agreement was signed December 15, 2005.
Segezha Pulp and Paper Mill is sure that the strategies of both companies are alike, which means that a new vertically integrated holding will become a serious market player. Experts of Roland Berger developed the new company’s structure. Since the beginning of the year, top managers of Segezha have met with the main clients of Korsnas Packaging and discussed the plans for further cooperation. The development plan up to 2012 for the newly created holding will become the next step of the integration process.
Segezha Pulp and Paper Mill (Russian Karelia) is an integrated paper and packaging producer and the largest sack paper and paper sacks supplier in Russia, exporting large volumes of kraft-paper. In 2002, the mill started modernization aimed at boosting its capacities twice — up to 600 thousand tons annually.
With the output volume of 1.1 billion of sacks and 300 thousand tons of sack paper per year the holding becomes “#2 player” at the world market of paper sacks.
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