CORPORATE NEWS

AssiDomän gets KK Profin

Officials from the Swedish company AssiDomän announced that after its February acquisition of a 61 percent share in the pulp and paper mills JCP located in Sturovo, it purchased 100 percent of KK Profin Ltd., Bojnice, on March 11. KK Profin, established by two sons of JCP's general director, purchased 30 percent in JCP from the state privatization agency Fund for National Property (FNM) in August 1996 for 100 Sk/share, though the company's share price on the market was listed at 600 Sk at the time. The new owners pledged to invest 1 billion Sk over the next five years.

"We expect that it will take some time to register the change of ownership rights from KK Profin to AssiDoman," said AssiDomän director Ulf Kilander.

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