President of Singapore Visited Horizon Pulp and Paper in Estonia
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The presidential delegation was welcomed by Sonny Aswani, Chairman of the Supervisory Board of the company, Bashyam Krishnan, CEO, and Riivo Noor, Mayor of Anija Municipality in Estonia. President Shanmugaratnam received an overview of the activities of the company, followed by a tour in the production facilities.
Bashyam Krishnan, CEO, Horizon Pulp & Paper said: “We are honoured to host President Tharman and the Singapore delegation this afternoon and are delighted to showcase the environmental sustainability initiatives across our mill. By investing in innovation, we are leading the charge in setting new standards for environmental stewardship across the paper packaging industry.”
Sonny Aswani, Managing Director Estonia, Tolaram, adds: “Tolaram has been present in Estonia for nearly three decades now. Our continued investments reflect our commitment to fostering innovation and sustainable growth for our businesses here. Like Singapore, Estonia’s strategic location, digital capabilities, tech-savvy workforce and pro-business environment allow enterprises to pioneer new opportunities that bridge continents and propel both nations forward in the competitive global economy.”
Horizon Pulp and Paper Ltd. is the only manufacturer of sack kraft paper in Estonia and the Baltics. It is a fully integrated paper mill that exports its products to more than 70 countries around the world. In the 2023 Entrepreneurship Awards, Horizon was listed among TOP 3 exporting companies in Estonia.
Since 1995, the company has been owned by the Singapore-based Tolaram. Since the acquisition, Tolaram has invested about €145 million to effectively modernize the production facilities and the mill’s infrastructure. About €75 million of investments have been allocated to environmental and sustainability projects. Over 80% of the energy used in the paper mill in Kehra is produced from renewable sources.
