Business news

MINSK, 1 June (BelTA) – The Belarusian timber, woodworking, pulp and paper industry concern Bellesbumprom and the Turkish holding company Kastamonu intend to start manufacturing all kinds of wood boards in Belarus together, Bellesbumprom Press Secretary Ruzhena Novitskaya told BelTA.

Kastamonu representatives have already shared their initial vision of cooperation with Belarusian manufacturers of board products. The existing manufacturing facilities will be used to make merchandise under the Kastamonu brand. The Turkish company may also invest in production development, may transfer technologies and the best practices to Belarusian companies, and may include the Belarusian enterprises into the Turkish company’s sales chain.

Kastamonu has confirmed it is ready to invite major Turkish furniture brands to set up a cluster in Belarus to make ready-made products for the Eurasian Economic Union market. The Turkish company is ready to consider any proposals of the Belarusian side regarding the cooperation model.

Prospects of advancing cooperation between Bellesbumprom enterprises and Turkey’s leading woodworking holding company are discussed as a delegation of Kastamonu managers and experts visits Belarus on 30 May – 3 June 2016. The Turkish delegation is expected to visit Bellesbumprom enterprises that make fiberboards, insulation boards, and chipboards, laminated floor boards, furniture, pulp and paper products. Kastamonu sales experts and financial experts are expected to meet with Belarusian experts in Minsk to discuss possible manufacturing cooperation in detail.

The visit has been organized as part of Bellesbumprom’s efforts to advance trade, economic, and investment cooperation with Turkey’s leading woodworking companies with assistance of the Embassy of Belarus in Turkey.

The holding company Kastamonu specializes in making medium-density fiberboards, chipboards, laminated floor boards, furniture boards and other products. The company has factories in Turkey, Romania, Bulgaria, Bosnia and Herzegovina, and Russia. Kastamonu’s annual turnover is estimated at $1.4 billion.