Sibal may pounce on Russia's Volga newsprint mill
The Russian pulp and paper industry grapevine is thick with rumors that the aluminum conglomerate, Sibal, intends to acquire Volga. The company produces more than 500,000 tonnes/yr of newsprint on four machines at its mill in Balakhna, on the west bank of the Volga river, 400 km east of
BRUSSELS, Jan. 16, 2001 (paperloop.com) - The Russian pulp and paper industry grapevine is thick with rumors that the aluminum conglomerate, Sibal, intends to acquire Volga. The company produces more than 500,000 tonnes/yr of newsprint on four machines at its mill in Balakhna, on the west bank of the Volga river, 400 km east of
A spokesman for Volga said the firm had not received any formal offer from Sibal. The aluminum conglomerate's recent attempts to take over the Bratsk pulp and paper mill have met with fierce resistance from the plant's owner, Ilim Pulp. Sibal reportedly plans to create a timber and paper production business unit.