CZECHOSLOVAKIA (News release) -- Czech company Papcel Group has changed its ownership structure on the basis of mutual negotiations of current company shareholders. An agreement was made by the current shareholders, i.e. companies BHM Group, a.s. Czech Republic and VEGA-HSH, s.r.o. Czech Republic, regarding final sale and the transfer of 50% of shares belonging to BHM Group, a.s. and its receivables in Papcel Group to VEGA-HSH, s.r.o.

This made VEGA-HSH, s.r.o. the sole shareholder. At the same time Papcel's minority share in the Italian company PMT S.R.L. was transferred to BHM Group, a.s as part of mutual settlement.

David Dostal remains Chairman of the Board. Since March 2019 the position of CEO in Papcel, a.s. is filled by Petr Domin.

Investment company BHM Group, a.s. (former Bohemia Industry, a.s.) entered Papcel in 2016. Papcel Group took over ICONé S.r.l. company (former GapCon Tissue S.r.l.) in Italy at the end of 2016 and another Italian company PMT S.R.L. in April 2017.

PAPCEL Litovel is among major suppliers of complete paper technology for the production of most commonly available paper types.

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