Viru Liimid AS reacquired by VKG Group

As of 31 October 2005, Viru Keemia Grupp AS (VKG) holds the shares of Viru Liimid AS.

“The repurchasing of the company was motivated by VKG’s wish to continue the development of chemical products produced from shale oil. Viru Liimid has the necessary equipment and know-how to manufacture them. Product development is the key word on which Viru Liimid plans to focus and we will support them,” said Janek Parkman, chairman of the management board of VKG.

“We will commence with the integration of Viru Liimid into the group and also plan to change the company’s name in the near future. The goal is to create a clear link with the other companies belonging to the group and to adopt a business name that is better understood by our western clients,” Parkman explained.

David James O’Brock-Kaljuvee, who has been at the head of the company since 2002, will continue as a member of the management board of Viru Liimid AS.

In a year and a half, Viru Liimid AS has significantly increased its market share and become the largest producer of resins for the timber industry in the Baltic States.

“We have put a lot of effort into the development of polymer resins produced from oil shale phenols. These products are used as the main ingredients in various adhesives and covering materials,” explained David O’Brock, member of the management board of Viru Liimid AS.

Viru Liimid AS specialises in the production of urea and phenol formaldehyde resins which are used to manufacture particle boards, furniture and plywood.
The company has held quality management system certificate ISO 9001 since 2001 and ISO 14001 certificate since April 2004. Viru Liimid AS employs 113 people.

Additional information:

Elina Kink
Head of Public Relations, VKG
GSM +372 523 2700
E-mail: elina.kink(at)vkg.ee