Home News Branch news Pulp and paper mill in Kondopoga will be sold as one lot

Pulp and paper mill in Kondopoga will be sold as one lot

Property of “Kondopoga” (Kondopozhskiy pulp and paper mill) which is in the procedure of bankruptcy administration, it will be sold as one lot, representative of bankruptcy manager of Shutilov Andrei told “Vedomosti”. Sale of single manufacturing complex of local economic mainstay will allow to keep production itself in the town Kondopoga, he explained.

 Date of auction is not planned, inventory is not finished yet, estimation and confirmation of the conditions for selling by charge lenders and creditor committee. But bidding will start not earlier spring 2017, it was noticed. The plant will not stay without investor and perspectives of its development in the region are good. On his opinion “ it connects with near of nearness of raw material base, presence of infrastructure and high level of specialists preparation” and also development of the economics of the whole region.
Starting price of pulpa and paper plant was not determined yet. At the end of 2015 it was supposed that pulp and paper mill would be sold in 2016 for the price not less 8,5 mld.rub but the auction was not declared. Under the result of the first half year 2016 with profit 4,6 mld.rub. the company got 242,8 mln.tub. of net loss under the quarterly report of “Kondopoga”. One third of Russian paper production is on “Kondopoga”. Pulp and paper mill works on customer-furnished schedule – the customer is “Karelia pulp”. It is also the biggest creditor of the plant: sum of its demands included in registry is about 6,7 mld.rub. The other charge lenders are bank “Vozrozhdenie” (sum of the demands – 2,67 mld.rub), Rosselkhozbank (287 mln.rub.), “Arkada” (legal successor of Sberbank, 101 mln.rub.). Total registry demands are 13, 5 mld.rub.
It is difficult to estimate assets including customer-furnished schedule, said top manager of big wood industry company. On his opinion, maximum price of pulp and paper mill is about 3 mld.rub without debts and with the opportunity of its restructuration in rubles. Consumption of newsprint paper is decreased that is why the mill will be bought more as the place for expending product range, he thinks.
The opportunity of buying Kondopozhskiy pulp and paper mill is studied by wood and paper corporate Segezha Group (belongs AFK "System"), who has assets in Karelia – Segezhskiy pulp and paper mill, “Segezhskaya packing” and others. “it is interested as the place for development but it is necessary to change its  speciality, said in interview in August to “Vedomosti” president of the company Pomelov Sergei. If we take the products which is produced with Kondopozhskiy pulp and paper mill, - newsprint paper – so this market is decreased annually plus volatility on prices are there”.
Parcicipation of “Karelia pulp” is not excluded in auction.  Most part of newsprint paper of Kondopozhskiy pulp and paper mill is delivered on export, he noticed: in 2013 it was sent abroad 51% of kondopozhskaya paper, in 2016 it was 78%. “In spite of total decreasing of newsprint paper  world market in some Asia countries and Middle East there is increasing of its consumption”, - he continued. On our estimation production of newsprint paper will be needed within 7-15 years”. But he tells “it is necessary today to think and study the issue about changing the speciality of the production”.
Arkhangelskiy pulp and paper mill does not plan to participate in the auction, its representative told. These plans are also absent at the mill “Volga”, according to the words of its representative. “In order to be profitable it is necessary to do wide diversification of newsprint paper production, to do the programs for import substitution, to produce new product range such as light coated paper, there is no such paper production in Russia”, he noticed. Representative of bank “Vozrozhdenie” refused from comments. Person who connects with “Vozrozhdenie” says that the bank will not take part in the auction and thinks that the mill will be sold as one lot as local economic mainstay.
Representatives of Ministry of Industry and Trade of the Russian Federation of Karelia government group “Ilim”, “Solikamskbumprom” did not answer on the issues of “Vedomosty yesterday.  
According to the material of web-site "Vedomosti.tu"


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