Sistema JSFC announces that its subsidiary LLC LesInvest (part of Segezha Group) has acquired a controlling stake in OJSC Lesosibirsk LDK No. 1, the largest vertically integrated wood processing enterprise in Russia, based in Krasnoyarsk region.
Fyodor Potapenko, who has served for many years as head of Segezha Group’s Sokol Wood Processing Plant, a producer of high-quality lumber and wood products for housing construction, was appointed as the new CEO of Lesosibirsk LDK No. 1. The management of Segezha Group has already commenced integration of the Lesosibirsk plant into the Group and realisation of synergies with existing product lines.
Sergei Pomelov, President of Segezha Group, said: “The Lesosibirsk plant has favourable conditions for further successful growth: a significant forest resources base and modern logging and sawmilling capabilities. With the acquisition of this asset, Segezha Group has expanded its presence in Russia, and is diversifying its business geographically. By more than doubling the raw materials volumes processed at its sawmills, the group has become a leader in the production and sale of sawn timber in Russia. The product range offered to customers has been expanded by adding new types of wood that are in demand on the market: larch and Angara pine”.