Business news from Ukraine

GALPACK BECOMES OWNER OF ROHAN CARDBOARD MILL

A large Ukrainian manufacturer of corrugated cardboard and corrugated packaging, Galpack LLC (Zhydachiv, Lviv region) increased its stake in PJSC Rohan cardboard mill (RKF, Rohan, Kharkiv region) to 86.5325% from 43.266%.
As reported in the information disclosure system of the National Securities and Stock Market Commission, PJSC RKF received the relevant information from the depository on September 23.
According to the National Securities and Stock Market Commission, as of Q2 2020, in addition to Galpack LLC with 43.266% stake, among the major shareholders were Tetiana Chykhladze (19.2988%) and Vitaliy Tereshchenko (Kharkiv Regional Council deputy, Chairman of the board of the mill in 1998-2007) with a package of 26.5411%.
Founded in 1858, the Rohan cardboard mill produces roofing board (for roofing felt production), packaging cardboard (since 2020), as well as roll packaging for food and pharmaceutical industry. The products are almost entirely supplied to the domestic market.
GalPak LLC is a part of UGPS (Ukrainian Green Packaging Solutions) group of companies with a head office in Zhydachiv, which specializes in the production of containers, packaging, corrugated board, laminating, tape, stretch film and components for corrugated packaging.
UGPS has representative offices in Lviv, Kyiv, Uzhgorod, Odesa and Kharkiv, as well as in Radom (Poland).

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CITIZEN OF LITHUANIA BECOMES OWNER OF UKRAINIAN INSURER

Arunas Siksta, a citizen of Lithuania, has become the ultimate beneficiary owner of double liability company Guardian insurance company, the insurer has said in a press release. On September 24, 2019, the National Commission for Financial Service Markets Regulation of Ukraine in decree No. 1855 approved the acquisition of a substantial holding in Guardian insurer via indirect holding of 70% of shares of the charter capital of the financial institution.
Guardian has been working in the insurance market since 2007. It is a universal company that has 35 licenses issued by the National Commission for Financial Service Markets Regulation. The company has an extensive regional network and covers 21 regions of Ukraine.
Guardian is an associate member of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU), a member of the Ukrainian Association of Automobile Importers and Dealers (VAAID), a member of the League of Insurance Organizations of Ukraine (LIOU).

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