Stora Enso to Invest EUR 70 Million in Finland for Extrusion Coating
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Stora Enso, Helsinki, Finland, announced yesterday (May 18) that the company will invest approximately EUR 70 million in a new polyethylene extrusion coating plant and an automated roll warehouse at Imatra mills in Finland. Extrusion coating is a process used to enhance the functionality of paperboard packaging by creating barrier properties for demanding applications such as food and liquid.
The investment will enhance Stora Enso’s ability to meet increasing customer demand for food service board and liquid packaging paperboard, which is estimated to grow above industry standard.
This investment is part of Consumer Board division’s growth strategy to ensure competitiveness and deliver profitable growth. The additional extrusion coating capacity will also allow further product development of innovative new generation bio-barriers, among others.
The investment will begin in Q2 2016 and is expected to be completed in early Q4 2017. This is in line with the group’s full year 2016 capital expenditure guidance, which is anticipated to amount to EUR 680–720 million as communicated earlier.
