OREANDA-NEWS. The government will become in control of a major shareholding in OAO Baranovichidrev - a prominent wood working enterprises in Belarus.

In conformity with resolution #67 of January 24, 2014, OAO Baranovichidrev will gratuitously surrender to the state 22,686 shares worth Br36.298 million (USD 3,765).

The move is intended to optimize management of OAO Baranovichidrev as a property unit.

At the moment, a 36% stake in OAO Baranovichidrev is owned by entities, the government impersonated by the Ministry of Architecture and Construction holds a 48% stake and the remaining 16% stake is owned by individuals.

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.