Kama

History

2024 Sveza bought Kama LLC

On August 5, 2024, it became known about the deal on the Russian market of the pulp and paper industry. The Sveza woodworking holding, which is one of the largest plywood producers in Russia, has signed an agreement on the acquisition of Kama LLC, a company that manages the assets of the Kama Pulp and Paper Mill (Pulp and Paper Mill), expanding its presence in the industry.

The deal is estimated at about ₽47 billion. This amount is 30% higher than the cost paid by the previous owner - the structures of Viktor Kharitonin, co-owner of the pharmaceutical group Pharmstandard - when buying the enterprise in early 2023.

source = Sveza

There is a steady demand for paper and cardboard both in the Russian market and abroad. The modern way to develop the Russian pulp and paper industry is to increase the depth of wood processing and ultimately the progress of the entire domestic timber sector, "commented Anatoly Frishman, General Director of Sveza-Les Holding.

The pulp and paper mill, located in the city of Krasnokamsk, Perm Territory, is the only manufacturer of lightly coated paper and coated boxboard in Russia. The capacity of the enterprise allows the production of 220 thousand tons of cardboard and 85 thousand tons of paper per year.

According to Sveza, the Kama enterprise is distinguished by modern equipment and the fact that it uses advanced technologies in its work that meet international standards.

As noted by the publication "Business Petersburg," before the completion of the transaction, approval of the Federal Antimonopoly Service (FAS) is required. The terms and structure of the agreement were not disclosed by August 2024.^[1]

2023: Viktor Kharitonin's structure bought Kama for 36 billion rubles

On January 9, 2023, it became known that the Federal Antimonopoly Service (FAS) approved the sale of Kama, which combines the pulp and paper mill of the same name (pulp and paper mill), Kamabumprom and Kama Carton. The assets were acquired by the structure of the co-owner of Pharmstandard, billionaire Viktor Kharitonin.

According to Kommersant, the deal was planned to be closed by the end of 2022, but the completion date was shifted to January 2023. According to the newspaper's informants, Kharitonin has already visited the enterprise and "positively assessed his work." The interlocutors noted that Pharmstandard is a large buyer of Kama packaging cardboard.

Victor Kharitonin

According to WhatWood experts, the pulp and paper mill and the only coated cardboard factory in Russia are "a successful purchase, given that the demand for packaging will only grow." At the same time, the market believes that the presence of synergy with other assets of the new owner additionally increases the value of the company. Kommersant sources estimate the value of Kama's assets at 14-15 billion rubles.

After February 2022, several foreign cardboard manufacturers suspended cooperation with Russia. As a result, foreign cardboard has become scarce, including among Russian drug manufacturers (they need cardboard for secondary packaging).^[2]

On February 3, 2023, it became known about the closure of the sale of Kama LLC to the structures of Viktor Kharitonin. According to Kommersant, the transaction cost amounted to 36 billion rubles, of which 15 billion rubles - the value of the company's assets, 21 billion rubles - the company's debt to Otkritie Bank, the funds of which were raised for the development of production.

2022: Transfer of the company to Trust Bank

In February 2022, Kama was transferred to Trust Bank for further sale to the market for 13.6 billion rubles with a book value of 8.5 billion rubles. It was planned to look for a new buyer for assets after they reached full capacity of 220 thousand tons of coated cardboard per year, writes in the Kommersant issue of January 9, 2023.

The plant was supposed to achieve this indicator in 2023, but was able to do this by the end of 2022 thanks to sanctions and the departure from Russia of foreign suppliers of coated cardboard, the share of which was taken by Kama.

Notes