The Russian Nikol-Pak Management Company has increased its shares to 99.8 percent in Angren Pack, the leading corrugated board and tissue paper manufacturer in Uzbekistan, the Central Asian country’s stock exchange reported.

Nikol-Pak bought 53 percent of the shares of Angren Pack in 2018 in a bid to expand its business in Central Asia. The company increased its stake to 78 percent in 2019, while taking investment obligations.

Angren Pack is a leading company in the paper industry of Uzbekistan and manufactures containerboard, paper and corrugated packaging.

Russian Nikol-Pak, one of the largest manufacturers of cardboard cores and cardboard corner protectors, unites several production sites in Russia.