OREANDA-NEWS. April 5, 2011. Belarus considers merging assets of OJSC Grodno Khimvolokno and OJSC Grodno Azot, a source in the administration of the country stated.

According to him, the merger is initiated by Belneftekhim concern, which believes the move will establish closer ties between the two companies and improve the performance of OJSC Grodno Khimvolokno. OJSC Grodno Azot supplies its products to OJSC Grodno Khimvolokno in the framework of cooperation programs.

The merger may result in Grodno Azot’s taking over Grodno Khimvolokno, he added.

Grodno Azot is 99.97% controlled by the state. The state owns a majority shareholding in Grodno Khimvolokno.