HELSINKI, Finland, Sept. 24, 2013 (GLOBE NEWSWIRE) -- STORA ENSO OYJ STOCK EXCHANGE RELEASE 24 September 2013 at 9.00 EET
Stora Enso has drawn a EUR 140 million seven-year loan from the European Investment Bank (EIB) to be used for research and development. The interest rate of the loan is 3.3%.
"We have had long and fruitful co-operation with EIB. This is Stora Enso's third loan from EIB to be used for the Group's research and development projects. The terms of the loan are competitive," says Stora Enso acting CFO Jyrki Tammivuori.
"Stora Enso invested EUR 81 million in research and development in 2012. The Group's R&D platforms include bio-based barriers, micro materials, composites, biochemistry and separation technology, and wood-based building solutions. About fifty patent applications were registered in 2012," says Bernd Rettig, Senior Vice President, Group R&D and capital investments.
For further information, please contact:
Jyrki Tammivuori, acting CFO, tel. +358 2046 21043
Ulla Paajanen-Sainio, SVP, Investor Relations, tel. +358 2046 21242
Stora Enso is the global rethinker of the paper, biomaterials, wood products and packaging industry.We always rethink the old and expand to the new to offer our customers innovative solutions based on renewable materials. Stora Enso employs some 28 000 people worldwide, and our sales in 2012 amounted to EUR 10.8 billion. Stora Enso shares are listed on NASDAQ OMX Helsinki (STEAV, STERV) and Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY) in the International OTCQX over-the-counter market.
STORA ENSO OYJ
Source: Stora Enso Oyj