Company Belovo Paper Mill AD

Belovo Paper Mill AD (Zavod za hartiya Belovo AD or Belovo Paper Mill S.A.) is a Bulgaria-based company that specializes in the paper products industry. The Company offers its products under the brand name Belana. Its product line includes industrial and household tissue products, such as toilet and kitchen rolls, napkins, pocket hankies, facial tissues, wadding, greaseproof, opaline and wrapping, as well as plastic dispensers for toilet rolls, coreless kitchen rolls and perforated hand towels. Belovo Paper Mill AD operates a paper mill plant, comprised of converting and finishing departments, central workshop, spare parts warehouse, water and effluent treatment plant, compressed air station, boiler house with gas and railway facilities for raw materials and products. The Company exports its products to Serbia, Romania, Greece and others. As of December 31, 2011, the Company's major shareholder was Pabolux S.A. with a stake of 34.89%.