Syktyvkar plywood plant

Syktyvkar Plywood Plant LLC is one of the largest producers of large-format plywood and wood-based furniture board in Russia

History

2025: Balchug Capital bought Syktyvkar plywood plant

On December 27, 2024, the Armenian fund Balchug Capital acquired an 83.3% stake in Syktyvkar Plywood Plant LLC, one of the largest plywood producers in Russia. This became known in January 2025.

According to Delovoy Petersburg, the Cypriot company Rossilon Enterprises Limited previously owned the enterprise. The remaining 16.7% of the shares belong to the entrepreneur Mikhail Magic.

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Фото: Freepik

The production capacity of the plant is more than 230 thousand cubic meters of plywood and 300 thousand cubic meters of chipboard per year. The company employs about 1.4 thousand employees. According to analysts, the value of the transaction could range from ₽1,5 billion to ₽2,7 billion.

The source of financing was a syndicate of Armenian banks. The new owner plans to modernize the production site and expand the range of products for the domestic market and exports, including the development of the SyPly and Lamarty brands.

Balchug Capital, owned by David Amarian (99%) and Artyom Orus (1%), is actively expanding its assets in Russia. In February 2023, the fund acquired the Pulkovo Sky business center in St. Petersburg.

In June 2024, through Investment Solutions LLC, the fund became the owner of the Caterpillar plant in Tosno, Leningrad Region, which was renamed Tosno LLC. During the same period, the company acquired the Metropolis shopping center in Moscow.

The fund's portfolio also includes the fodder producer LLC Raduga and its subsidiary LLC Uvelka Petfud in the Chelyabinsk region. Syktyvkar plywood plant specializes in the production of large-format plywood and laminated wood chips.

The company will continue to produce products under its own trademarks - SyPly large-format plywood and laminated Lamarty slabs. The plant will retain its production profile and workforce.^[1]

2019

Logo in 2019