KYIV. March 15 (Interfax-Ukraine) – The Zhytomyr furniture factory that will manufacture furniture from the products made by Korosten MDF (medium density fibreboard) plant LLC (Zhytomyr region) will be created on the territory of the Zhytomyr-Skhid industrial park, the press service of Zhytomyr City Council has reported.
Last week the lawmakers of the city council signed a memorandum of partnership with Zhytomyr furniture factory LLC.
Some 1,250 jobs will be created.
“The investor promises to pay average salary of at least UAH 8,000 a month. The new furniture plant of the European model is not only UAH 2.5 billion of investment in the city economy, but this is the creation of new jobs. The factory will be the leader in furniture production in Ukraine,” the press service said, citing Zhytomyr Mayor Serhiy Sukhomlyn.
According to the register, Zhytomyr furniture factory LLC with the charter capital of UAH 1 million was registered on March 1, 2017. 99% of its capital belongs to Ukrbudinvest venture corporate investment fund affiliated with Leonid Yurushev and 1% belongs to Yurushev.
The ultimate beneficiary of Zhytomyr furniture factory LLC and Korosten MDF Plant is Yurushev.
Korosten MDF Plant manufactures medium density fibreboard (300,000 cubic meters a year) and laminate flooring (6 million cubic meters) under the REZULT trademark.
Yurushev is also the ultimate beneficiary of Ukrainian Holding Wood Sawing Company LLC that processes 1.2 million cubic meters of timber a year. It produces commercially sawn timber under the REZULT brand and wood pellets.
The Zhytomyr-Skhid industrial park on almost 25 ha was registered by the Economic Development and Trade Ministry in October 2016.
