Helsinki, Finland 03 February 2017 -- Stora Enso is investing EUR 28 million at its Heinola Fluting Mill in Finland to meet a growing customer demand globally.The investment improves quality as well as increases production capacity of its AvantFlute SC product portfolio. Implementation of the investment is scheduled to start immediately with completion in the second quarter of 2018.
AvantFlute SC is Semi-Chemical fluting made from virgin fibre and is developed especially to endure demanding conditions. The production capacity of AvantFlute SC will increase by 15 000 tonnes once the investment is completed and fully implemented. The current annual production capacity at Heinola Fluting Mill is 300 000 tonnes of fluting.
"The timing of this investment is ideal as we expect an increased demand for high quality fluting products used for food, fruit and vegetable packaging. In addition to facilitating a more competitive offer to the market, this investment also enables a lower carbon footprint at our Heinola Fluting Mill," says Gilles van Nieuwenhuyzen, EVP and head of Division Packaging Solutions.
The investment is included in Stora Enso's capital expenditure guidance, and it is expected to exceed the 20% return on operating capital (ROOC) target for the Packaging Solutions division.
Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wooden constructions and paper on global markets. Our aim is to replace fossil based materials by innovating and developing new products and services based on wood and other renewable materials. We employ some 26 000 people in more than 35 countries, and our sales in 2015 were EUR 10.0 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY). storaenso.com