Arkhangelsk pulpmill CEO: More effective state control of forest industry needed
May 28, 2009. Among major objectives of the government in terms of forest industry enterprises Arkhangelsk pulpmill CEO Vladimir Beloglazov named subsidization of credit interest rates for enterprises and faster value-added tax return.

Arkhangelsk pulpmill CEO: More effective state control of forest industry needed

May 28, 2009. /Lesprom Network/. Presently, forest industry enterprises need assistance of the state in terms of concessionary crediting of daily operations and production modernization, as general director of Arkhangelsk pulp and paper mill said on May 27 at the 10th Congress of the Union of Forest Industry and Forest Export Companies of Russia. The event was attended by the First Vice Minister of Russia Viktor Zubkov, as reported by Arkhangelsk pulpmill press service.

Mr Beloglazov told about anti-crisis program of the plant and measures taken by the board. Among other steps he underlined reorientation of product deliveries to the home market and considerable curtailment of expenses.

‘Despite the crisis, Arkhangelsk pulpmill goes on with the modernization of cardboard production line, in 2009 it is intended to disburse not less than one third of the planned investment assets’, Beloglazov said.

In order to speed up implementation of this strategic program, the mill’s CEO suggested faster governmental feedback in terms of the planned anti-crisis measures intended to improve sustainability of Russian forest industry.

Among major objectives of the government in terms of forest industry enterprises Arkhangelsk pulpmill general director named subsidization of credit interest rates for enterprises and faster value-added tax return.

According to Beloglazov, there is another acute matter, granting state guarantees to enterprises having strategic social and economic importance for regional or municipal development (almost all large pulp and paper market players in Russia belong to this category), i.e. security for loans attracted for refinancing of existing debt and those additionally attracted in 2009 for replenishing working capital.

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