BELUGA GROUP acquires a controlling interest in Chugunovsky Ethanol Plant JSC
BELUGA GROUP announces the finalized purchase of 88.46% of the shares in Chugunovsky Ethanol Plant Distillery JSC.
The plant is a modern enterprise that produces approximately 1 million decaliters of ethyl alcohol per year, specializing in Lux and Alpha class ethanol. It is located in Nizhniy Novgorod region.
Alexander Mechetin, CEO of BELUGA GROUP, commented on this event: “The company acquired a controlling interest in Chugunovsky Ethanol Plant JSC as a result of consistent implementation of its vertical integration strategy within our operations. So, with its implementation, the company will be able to assume near complete control of all the operational stages, from the production of raw materials for its products to brand sales through its own retail chain. This is extremely important for the purposes of quality control of our products and sustainable supply chain management.
The plant is equipped with full-cycle equipment and complies with all environmental standards. The company plans to develop this site to produce Lux and Alpha class organic alcohols without chemical enzymes."