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May 27, 2019, 4:25 p.m. EDT

Russian Federation : Sberbank actively supporting and developing export-oriented forest industry complex of Russia

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May 27, 2019 (Euclid Infotech Ltd via COMTEX) -- Pulp Mill Holding GmbH has constructed and put into operation a corrugated fibreboard enterprise. The opening ceremony of its third site was held. The enterprises capacity is 188 mln cubic meters per year.

Senior Vice President of Sberbank Vladimir Sitnov:

The creation of new production sites is part of the holdings strategy to develop its corrugated fibreboard package division. Sberbank actively supports the investment policy of the company. The history of our cooperation began in 1999, and we are sure that it is destined to successfully continue.

In the first quarter of 2019, a new individual solution for Pulp Mill Holding with a limit of more than RUB 18 bln was approved. Most of the loan will be used for investments. The imposition of an umbrella limit allows the group to receive loan resources in a short timeframe and under approved conditions. This is especially important because the company is implementing a technical re-equipment programme.

Pulp Mill Holding GmbH is an Austrian-German group (headquartered in Vienna, Austria) that is engaged in the production of paper, cardboard and packaging. It has more than 20-years experience in the sector. The groups enterprises are located in Russia and Ukraine. The main asset of the group is Arkhangelsk Pulp and Paper Mill JSC (Arkhangelsk Region, 4,000 employees), which is the largest producer of container board and one of the leading producers of paper pulp (for pulping) in Russia.

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