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PAPCEL changed its ownership structure

PAPCEL has changed its ownership structure and announced that 100% of its shares are now held by Czech company Vega-HSH.

In the last four years, the company has been involved in several acquisitions of competing companies in eastern Europe under chief executive David Dostal.

In 2019, PAPCEL Group changed its ownership structure on the basis of mutual negotiations of current company shareholders.

VEGA-HSH is now the sole shareholder.

PAPCEL‘s minority share in the Italian company PMT has also been transferred to BHM Group as part of mutual settlement.

David Dostal remains chairman of the board.

Since March 2019, the position of PAPCEL chief executive was held by Petr Domin.

For 2019, PAPCEL plans to reach revenues of around 660m CZK.

In the first quarter of 2019, company finished a project of new decor paper machine (joint investment with ČEB – Czech Export Bank – and Egap) for Russian-German Mayak-Technocell.

It will also commission two more paper machines for tissue this year.

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