OREANDA-NEWS. The Government of Belarus has prepared an ordinance to be approved by President Lukashenko to let OAO Baranovichidrev be sold to a private investor.

The press-service of the Belarusian government issued a statement tot his effect following the visit of Belarusian Premier Mikhail Myasnikovich to Brest Region on October 24.

The investor is already working at Baranovichidrev, installing modern equipment to produce export-oriented products, including prefabricated panel homes and furniture facades. In fact, the products are already exported. Myasnikovich believes that in the future “this will be a quite competitive company making a decent contribution to the local economy”.

Established as a woodworking company in 1946, Baranovichidrev was converted into an open joint stock company in 2004.

The company manufactures wooden window and door frames, panel-type doors and window blocks. Baranovichidrev occupies a territory of 15 ha. On October 29, 2013 OAO Baranovichidrev started undergoing financial readjustment.

Sweden's WH International Trading AB is set to invest around USD 40 million in production upgrade at OAO Baranovichidrev.

At the moment, the state holds an 83% stake in OAO Baranovichidrev and relies on the Swedish investor for production upgrade.