HELSINKI, Finland, Oct. 23, 2014 (GLOBE NEWSWIRE) -- STORA ENSO OYJ STOCK EXCHANGE RELEASE 23 October 2014 at 9.00 EET.
Stora Enso invests EUR 27 million to improve the quality and cost-competitiveness and to increase the capacity of the consumer board machine 5 by 20 000 tonnes at its Imatra Mills in Finland. The investment will focus on the coating part of the machine and on modernising the winder and reel packaging section.
"The investment is in line with Stora Enso's transformation into a customer focused renewable materials company. In addition to the capacity increase, the investment will enhance the quality and cost-competitiveness of our Tainionkoski unit in the global markets," says Vesa Simola, Head of Consumer Board Business Unit.
According to the plan, the modernisation of the reel packaging section will take place in the spring 2015 while the machine is running. The rest of the work is planned to be carried out during the scheduled maintenance stoppage in September 2015.
Imatra Mills consists of two units, Kaukopaa and Tainionkoski. The annual capacity of the mills is over one million tonnes of board and paper. The mills employ approximately 870 people, about 90 of them work at Tainionkoski.
For more information, please contact:
Marko Pekkola, VP Mill Director, Imatra Mills, tel. +358 40 672 2578
Ulla Paajanen-Sainio, SVP, Investor Relations, tel. +358 2046 21242
Tommy Borglund, SVP Communications, Stora Enso Renewable Packaging, tel. +46 1046 71709
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 29 000 people worldwide, and our sales in 2013 amounted to EUR 10.6 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