The capital increase of 4800 billion Rials in Mazandaran Wood & Paper Factory

Feed: 3035 - Date: 1/24/2020 - Views: 40

The Managing Director of the Mazandaran Wood & Paper Industries announced an increase of 4800 billion Rials in the capital of this large paper making group.

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According to Fars News Agency in Sari, this morning talking to the reporters about the activities of Mazandaran Wood & Paper Co. and the measures taken to boost production, Ali Hosseinipour said, " The factory has a nominal capacity of 175 thousand tons which can meet all requirements of newspapers and a part of writing paper of the country." 
Announcing that a part of the company's raw material requirements needs to be met by woods of the forest, he said, "given the ban plan to ban forest timber harvesting, there are three strategies to supply raw materials on the agenda; using the orchard wood, broken and fallen down trees in the forest, the supply of timber from overseas and tree farming."
Hosseinpour said, "We had correspondence with entities and institutions to raise fund for tree farming in order to supply the raw materials for the company which is wood." And he reminded, "This strategy has seriously been put on the agenda, but the measure will take 8 years to meet our requirements."
He considered the supply of raw materials to boost the company's production necessary and stated, "The measure to finance the working capital is on agenda. It was 480 billion Rials before while the company's accumulated losses were 2,510 billion Rials."
The managing Director of the Mazandaran Wood & Paper Co. continued, "Due to this issue, meetings were held with provincial authorities and the officials of Melli Bank Holding on the basis of which the decision to raise capital was made so that the company could get out of problems and restart the production process."
Referring to the supportive measures taken by Mazandaran provincial administration to prevent the Article 141 from leaving, Hosseinipour added, "The Melli Bank Managing Director, The Minister of Economic Affairs and Finance, and the Managers of Ayandeh Pouya Holding Co., Atiyeh Saba Holding and Tapico had suitable cooperation for production boom."  
He noted, "3,250 billion Rials obtained through revaluation of assets, collecting the outstanding payments to company's credits, cash inflows of the shareholders have increased the company's working capital at 4800 billion Rials."
Managing director of Mazandaran Wood and Paper Company noted, "Planning to maintain production is on agenda, and if we are seriously supported, we can prevent the outflow of foreign currencies from the country."
He added, "After following up the first Vice President on the Article 141 of the directives, we have paved the way to use the banking facilities and tax settlement so that we can create the growth of the industry in the province and the country."
Stating that 150 thousand hectares of land belong to the complex, Hosseinpour said, "At present, the Forestry and Rangeland Organization owes to the complex because of the forestry project, and we have a lot of problem with the working capital while the Forestry and Rangeland Organization does not pay its obligations due to some claims, which has faced us with unkindness."
In response to the question about whether the company is looking for free raw materials, he said, "We have not got even a single cent of broken or fallen trees free of charge, and we purchase the timbers based on the specific rules." 
The managing Director of the Mazandaran Wood & Paper Co. reminded, "We are not allowed to smuggle wood and get them for free, and we explicitly declare that we have purchased wood based on expert's evaluation of pricing."
Announcing that they are using the private sector's orchard timbers of poplar, he said, "due to the poor quality of their wood, the wastes of our products increases."
Hosseinpour stated, "We are using 50 % of our production capacity to make printing and writing paper, and totally 40 % of the production capacity of the factory is on operation cycle. Our prediction is to reach 80 thousand tons of products."
 
 

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