Sveza creates subsidiary to develop digital printing

ST. PETERSBURG. July 22 (Interfax) - The Sveza group, one of Russia's largest timber holdings, has established a subsidiary, MMPOF Digital Lab LLC, in the Leningrad region, an extract from the Unified State Register of Legal Entities (USRLE) reads.

The company's charter capital totals 10,000 rubles. Sveza LLC, part of the Sveza group, owns 100% of the new company. Its main occupation is producing other types of goods from paper and cardboard.

The press service of Sveza group told Interfax that this separate legal entity had been established within the group's packaging division in order to develop a new business area.

"The company specializes in the production of cardboard packaging and tubes for various purposes - from souvenirs to packaging for food products and alcoholic drinks. We plan to develop digital printing in future in order to reinforce the company's market standing. Allocating a separate company for this area will allow it to be developed more flexibly, for new products to be launched more quickly and the range of packaging solutions to be expanded. For the Sveza group, this is part of a strategy to diversify business and create new growth points," the company wrote.

Sveza group encompasses seven plywood mills, one cardboard and paper mill and three cardboard packaging and specialized paper production facilities in the Tyumen, St. Petersburg, Leningrad, Pskov, Kostroma, Vologda and Sverdlovsk regions and in the Perm territory, as well as a number of other structures, including companies that procure raw materials (Sveza Resource), produce bio-products (Sveza Bioproduct), and develop and integrate artificial intelligence technologies (Sveza Smartline).