Finland-based pulp and paper manufacturer Stora Enso is set to invest a total of €47m ($56.2m) in two of its production sites in Finland and one in Sweden.
The company will invest €21m ($25.1m) at its production sites in Anjala and Ingerois, Finland.
The Anjala site, with an annual production capacity of 435,000t, produces book papers, magazine papers and improved newsprint. The site employs around 300 people.
The Ingerois site specialises in manufacturing folding boxboard. Its annual production capacity is 295,000t and it employs around 200 people.
By investing in the Anjala and Ingerois sites, the company aims to minimise emissions and allow different fuel mixtures to be used in heat production.
Work on the sites is scheduled to begin in the second quarter of this year and be completed in the third quarter of 2023.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Stora Enso will also invest €26m ($31.1m) to upgrade its pulp production facility in Nymölla, Sweden.
The company manufactures chemical pulp and wood-free uncoated paper for office use at the Nymölla plant.
With this investment, Stora Enso plans to increase the plant’s annual softwood pulp production capacity from around 220,000t to 245,000t.
The investment is intended to help make the pulp production process more competitive and sustainable for the future.
Work on this project is scheduled to begin in the second quarter of this year and be completed in the third quarter of next year.
Stora Enso paper division executive vice-president Kati ter Horst said: “These investments will improve the competitiveness of both sites and at the same time contribute to our sustainability performance.”
In February, Stora Enso announced it had finished converting its paper mill in Oulu, Finland, to producing packaging board.
The €350m conversion project, which began in May 2019, involved converting a PM7 paper machine to allow the production of high-quality virgin-fibre-based kraftliner.
In April, the company began negotiations to end the production of pulp and paper at its Kvarnsveden Mill in Sweden and Veitsiluoto Mill in Finland.