Paper producer Kagazy joins packaging association of Kazakhstan.

By bne IntelliNews June 8, 2011
Kazakhstan Kagazy, industrial group running the Central Asias largest producer of paper - Kagazy Recycling LLP, joins the Packaging Association of Kazakhstan. The Packaging Association of Kazakhstan is focused on development of local packing business and effective contacts with foreign associations as well as improvement of education in the sphere of packing. Kagazy posted net loss of KZT 8.38bn in 2010, down by 76% y/y compared to a loss of KZT 35.547bn reported in 2009. The revenues increased 8.7% y/y to KTZ 10.223bn while the gross profit grew 6% to KTZ 3.378bn. The assets of Kazakhstan Kagazy shrank 15% last year to KTZ 52.417bn, liabilities decreased 2.4% to KTZ 40.567bn, equity capital went down 41% to KTZ 11.851bn and charter capital remained flat at 6.557bn. Kazakhstan Kagazy includes Kagazy Recycling Ltd, Kazakhstan's largest producer of recycled paper and cardboard, and Peak Ltd., an industrial real estate development company.

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