GalichLes plant (included into Segezha Group and AFC Sistema) is assumed to be launched into operation 2021 end, as it was informed by Segezha Group.
The project demands above 12bn rub. of investments. It is one of the priorities within the realization of the forest development strategy.
GalichLes was formed as logging division in Kostroma region on the site of Galich Plywood Mill. The capacity of the new plant is assumed to reach 125ths m3 of plywood.
Segezha Group is one of the largest Russian vertically integrated timber holdings with a full cycle of logging and deep wood-processing. The holding includes Russian and European enterprises operating in the forest, woodworking and pulp/paper industry. The Company has representations in 11 countries. The products are sold in more than 100 countries around the world.
The 9-month revenue under IFRS increased 14.7% to RUB 50.2 billion from RUB 43.7 billion; OIBDA - 11% to RUB 11.3 billion from RUB 10.2 billion; operating profit - 7.7% to RUB 6.6 billion from RUB 6.1 billion. Segezha Group's net losses gained RUB 5.5 billion against a profit of RUB 4.2 billion prior year.
