In March 1993, the privatization process was launched at the Parfino plywood factory. The state enterprise became an open joint-stock company (Parfino Plywood Factory  JSC).

The 90s of the last century were not just difficult, but almost catastrophic for industry. This also affected the activities of the plant. General Director of the plant E.P. Ivanov and Chief Engineer I.M. Golovatsky needed to solve the most important problem - to find buyers for his products abroad and organize the production of export plywood.

The company was assisted by the General Director of Novgorodlesprom JSC I. I. Slutsker. The plant received a large trade loan from a Finnish company. A number of organizational and technical measures were carried out, which made it possible to increase the production of export plywood, and therefore to preserve the enterprise and staff in an environment of general decline in production in the country.

In the most difficult year for Russia, 1998, Parfino  Plywood Factory concluded more than 20 export contracts and shipped its products to 15 countries: the USA, Finland, Sweden, Estonia, Germany, Denmark, etc.

In 2000 the team celebrated the 90th anniversary of the factory. At the same time, by decision of the Board of Directors it was decided to build a new production facility for the production of large-format plywood. Later, many experts regarded this decision as high-risk and untimely.

The global financial crisis of 2009 dealt a painful blow to the industries that consumed Parfino plywood and hit the plant.

In April 2009, based on the ruling of the Arbitration Court of Novgorod Region, a bankruptcy procedure - supervision - was introduced in relation to OJSC Parfino Plywood Factory. The property complex of the enterprise was transferred to trust management of the Ilim Timber Industry (ITI) company. The company's task was to revive the huge production. However  it was not possible to remove the plant from the bankruptcy procedure for Ilim Timber Industry.

In July 2011 bankruptcy management was introduced at the Parfino plywood factory. In 2011–2012 the company was put up for auction three times but there was no result.