Stora Enso (Finland) announced on 1 March more investment of approximately EUR 63 million to further improve competitiveness in strategic growth areas in China and Sweden. The divisions are Consumer Board and Biomaterials.
Stora Enso is investing EUR 31 million in a new polyethylene (PE) coating line in the new consumer board mill in Beihai, China, expected to be in operation during the second quarter of 2016. The investment will enhance Stora Enso’s strategy for profitable growth and supports competitiveness by enabling short lead-times and full quality control for PE-coated prime Food Service Board (FSB). The investment is expected to be completed in mid-2017.
The total investments further enhance Stora Enso’s transformation into a global renewable materials growth company. EUR 31 million of these investments are part of the group’s 2016 capital expenditure forecast, which amounts to EUR 680–720 million.
Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wood and paper on global markets. Their aim is to replace non-renewable materials by innovating and developing new products and services based on wood and other renewable materials.