Taiga Group pushes ahead with consolidation in Russian paper industry

Russian forestry holding company Taiga Group has acquired 100% of the shares in Karelia Pulp, the owner of paper manufacturer Kondopoga.

The investment company, formerly known as Sezar-Invest, already owns several paper companies, including the former Mondi subsidiary in Syktyvkar. The current transaction, the terms of which have not been disclosed, creates a new player in Russia that is relevant for several market segments.

Plans for the further development of the company, including the manufacture of higher value-added products, will be drawn up in the near future, comments Tigran Saakyan, managing director of Taiga Group, on the acquisition in a company announcement. It is part of the strategy to further develop Taiga Group's business and increase production potential.

The aim is to strengthen the company's position in the Russian and international forestry, pulp, and paper markets, increase efficiency by combining resources and technologies, and secure the long-term future of the Kondopoga pulp and paper mill.