United Panel Group, once a leading Russian plywood exporter to Europe, has changed ownership amid deepening financial trouble and creditor attempts to initiate insolvency proceedings. The holding includes the Zheshart Plywood Mill, Komi Forestry Company, and North-West Forestry Company—firms heavily affected by Western sanctions introduced in 2022. According to Russia’s Unified State Register of Legal Entities, the group’s assets were acquired in July by Universam Diana, a company owned by former St. Petersburg deputy Alexander Salaev. Industry sources quoted by Russian financial daily Kommersant say Salaev already owns three woodworking enterprises in Turkey. Previously ...