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آرشیو برچسب های: Russian companies

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Ilim Group appoints new CEO

منتشرشده در by Maxwell
13
آبان

The Board of Directors appointed Aleksei Lomko as Chief Executive Officer of  Russian JSC Ilim Group effective from October 30, 2023. Aleksei Lomko is one of key opinion leaders in corporate law, management, legal support, and re-engineering of large companies.

 

Mr Lomko is a graduate of the Ural Legal Academy and holds MBA degrees from the Northwestern University (U.S.) and Hong Kong University of Science and Technology.

He joined Ilim Group in 2005 as Deputy Director Legal.

Aleksei stood at the origin of the corporate formation of Ilim Group. In 2007, he took charge of the Group’s Legal Department that provided legal support for the establishment of a Russian-American joint venture and its investment activity.

When the management architecture was changed in 2013, Mr Lomko was appointed Vice President Legal and later in 2018 became Senior Vice President Legal. He interacted directly with the Board of Directors and served as acting CEO on multiple occasions.

Aleksei received awards for his excellent performance, including those from Ilim Group’s Board of Directors.

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Russia introduces mandatory sale of foreign currency earnings by Russian exporters of forest based products

منتشرشده در by Maxwell
23
مهر

Russian president Vladimir Putin has signed a decree “On the mandatory sale of revenue in foreign currency received by certain Russian exporters under foreign trade agreements (contracts),” according to a government statement.

 

According to the decree, a specific list of exporters, including 43 groups of companies from various industries such as the fuel and energy complex, black and non-ferrous metallurgy, chemical and forestry industries, as well as grain farming, are required to repatriate and sell foreign currency proceeds on the Russian market. It is noted that this measure is intended to contribute to the stabilization of the ruble.

 

On Monday, the dollar exchange rate on the Moscow Exchange exceeded 102 rubles for the first time since March 23, 2022. Last week, the dollar exchange rate exceeded 101 rubles. The Central Bank of Russia attributes the fall in the ruble exchange rate to a decrease in the trade balance.

 

The process will be implemented over 6 months, with volumes and deadlines set by the government. Additionally, the obligation to submit indicative plans-schedules for the purchase and sale of foreign currency on the domestic market to the Bank of Russia and Rosfinmonitoring is introduced. The introduction of authorized representatives of Rosfinmonitoring into individual companies to monitor and ensure compliance with currency regulation rules is also provided.

Source: Lesprom Network

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Crisis looms over Russian pulp and paper industry amidst sanctions and plummeting Chinese demand

منتشرشده در by Maxwell
13
مرداد

The Russian pulp and paper industry is facing an acute crisis in product sales. The main reasons for this difficult situation are sanctions and a severe lack of demand in the Chinese market, exacerbated by exorbitant export logistics costs.

Pulp and paper mills, have been forced to cut down production volumes. In the first half of 2023, the volume of production of wood pulp in Russia decreased 3.5% to 4,267 thousand tons, according to Rosstat. The production of paper and cardboard declined 4.6% to 4,863 thousand tons.

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Mondi completes sale of three Russian converting operations

منتشرشده در by Maxwell
17
تیر

Following the announcement on 15 December 2022 of the agreement to sell its three Russian packaging converting operations to the Gotek Group for a total consideration of RUB 1.6bn, Mondi plc (“Mondi”) confirms that Gotek Group received all requisite approvals and the sale has now completed. Mondi has received net proceeds of €۳۰.4m from this disposal into its Austrian bank account.

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Essity to Sell Its Operations in Russia

منتشرشده در by Maxwell
23
خرداد

Essity has signed an agreement with a buyer and the transaction has been approved by the Russian authorities, it said, adding that the deal was expected to be finalised during the second quarter of 2023.

The world’s second-biggest consumer tissue maker began work on exiting the Russian market in April, after taking a writedown of about 1.7 billion crowns ($157.25 million) on its assets in the country, the statement added.

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Russian packaging sector facing with the deepest crisis in its modern history

منتشرشده در by Maxwell
08
خرداد

The Russian packaging sector is facing with the deepest crisis in its modern history, as the ongoing military conflict between Ukraine and Russia and unprecedented sanctions, imposed on the country have resulted in the massive exodus of global packaging producers from the local market and posed a threat of the shortage of packaging in the country.

 

 

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Russia increases 51.3% newsprint supplies to China in 1Q 2023

منتشرشده در by Maxwell
06
خرداد

The first quarter of 2023 has seen a year-on-year decrease of 4.5% in China’s newsprint imports, which totalled 103.1 thousand tons. The value of these imports has fallen by 18.4%, settling at $57.1 million. This contraction correlates with the average price of newsprint, which also witnessed a 14.5% decrease to $554.1 per ton.

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