Stora Enso invests in competitiveness of consumer board and biomaterials

Stora Enso is investing around 63 million EUR (68.5 million USD) to further improve its competitiveness in consumer board and biomaterials in the strategic growth areas of China and Sweden.

€63m investment from Stora Enso going into Consumer Board and Biomaterials divisions

Stora Enso will invest 31 million EUR (34 million USD) in a new polyethylene (PE) coating line in the new consumer board mill in Beihai, China. The Beihai mill is expected to be in operation during the second quarter of 2016.

The investment will enhance Stora Enso’s strategy for profitable growth and supports competitiveness by enabling short lead times and full quality control for PE coated prime food service board (FSB). The investment is expected to be completed in the middle of 2017.

Stora Enso is also investing 16 million EUR (17 million USD) in a new chemical plant at the consumer board mill in Skoghall, Sweden to further improve the environmental performance of the mill. The investment is expected to be completed by the end of 2017.

In the Biomaterials division, Stora Enso is investing 16 million EUR (17 million USD) to improve the environmental performance by reducing sulphur emissions of its mill in Skutskär, Sweden. The investment is also expected to be completed by the end of 2017.

The investments are intended to further Stora Enso’s transformation into a global renewable materials growth company. 31 million EUR (34 million USD) of these investments are part of the group’s 2016 capital expenditure forecast, which amounts to 680-720 million EUR (739-782 million USD).

*currency conversions correct on March 1, 2016, via xe.com/ucc