STORA ENSO OYJ INVESTOR NEWS 11 December 2020 at 9:00 EET
HELSINKI, Dec. 11, 2020 /PRNewswire/ -- Stora Enso has decided to invest in centralising and modernising the wood handling capacity at its Imatra mills in Finland. The investment of EUR 80 million will enhance Stora Enso's production capabilities for premium packaging board. The investment supports the Group's strategy of sustainable profitable growth through packaging in strong customer segments. The investment is planned to start in Q1 2021 and to be completed in Q3 2022.
The Imatra mills produce premium packaging boards for food, beverage and luxury packaging. The purpose of the investment is to modernise the wood handling process in Imatra and centralise it in one of the existing wood yards. The project includes the installation of a new, third debarking line, improvements to chip handling systems, and modifications to the existing wood yard infrastructure.
The centralised and modernised wood handling capacity will improve the stability and efficiency of the process. In addition, the new, more efficient debarking line will reduce water consumption of the process and lower the environmental impact.
"Stora Enso's packaging materials offering relies on the competitiveness of large and strong integrated mills such as at Imatra. Imatra is one of the world's largest producers of liquid packaging board serving customers globally. From a long-term perspective, efficient and stable wood handling capacity is fundamental to both pulp and board production," says Hannu Kasurinen, Executive Vice President, Packaging Materials division at Stora Enso.
The Imatra mills, with two production units Kaukopää and Tainionkoski, produce premium packaging boards for food, drink and luxury packaging. The annual production capacity is 1 195 000 tonnes of packaging board. The mill employs approximately 900 people. Over the past few years Stora Enso has invested more than EUR 200 million in Imatra.
For further information, please contact:
Ulrika Lilja
EVP, Communications
tel. +46 72 221 9228
Investor enquiries:
Ulla Paajanen
SVP, Investor Relations
tel. +358 40 763 8767
Part of the bioeconomy, Stora Enso is a leading global provider of renewable solutions in packaging, biomaterials, wooden constructions and paper. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has some 25 000 employees in over 30 countries. Our sales in 2019 were EUR 10.1 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY). storaenso.com
STORA ENSO OYJ
For further information, please contact:
Ulrika Lilja
EVP, Communications
tel. +46 72 221 9228
Investor enquiries:
Ulla Paajanen
SVP, Investor Relations
tel. +358 40 763 8767
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https://news.cision.com/stora-enso-oyj/r/stora-enso-invests-eur-80-million-in-wood-handling-at-imatra-mills,c3252974
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