Stora Enso Secures Financing for New Medium Machine at Poland Mill
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Stora Enso, Helsinki, Finland, has signed an agreement with the European Investment Bank (EIB) for a EUR 150 million loan to be used for a new containerboard machine project at its Ostrołęka Mill in Poland. The loan matures in 2023.
Main items for the Ostrołęka project have been procured and construction work is progressing as planned, the company noted. The EUR 285 million containerboard machine at Ostrołęka is scheduled to be completed in the first quarter of 2013.
"The investment at Ostrołęka will strengthen our competitive position in corrugated packaging in the growing markets of Central and Eastern Europe, and is one more step in building sustainable and profitable growth for the Group. The new containerboard machine, with a modern product and greater capacity than the machine it replaces, will not only renew our product offering, it will also improve our overall cost position through efficient internal supply of lightweight containerboard made from recycled fiber," said Mats Nordlander, EVP, Packaging Business Area.
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