Stora Enso has signed a new EUR 435 million bilateral loan with the European Investment Bank (EIB) to support the its growth in renewable, fiber-based consumer packaging board.
Stora Enso’s EUR 1 billion investment in its Oulu mill in Finland is being financed, in part, by a new long-term bilateral loan. The loan features an amortising structure, with the final repayment anticipated in 2036, effectively lengthening the Group’s debt maturity profile. The mill, which is expected to begin operations with a novel, converted consumer board production line in the first half of 2025, will be one of the most modern and cost-efficient production sites for packaging materials in Europe.
“The investment in Oulu supports our growth strategy in renewable, circular packaging by providing new volume for the growing packaging segment. The wood fiber is sourced from sustainably managed forests in the Nordics, and the boards are designed to replace plastics in food and personal care packaging,” says Hannu Kasurinen, Executive Vice President, Packaging Materials Division.“This new loan with EIB will not only provide us with financial flexibility, but it also underscores our commitment to sustainable, profitable growth. Securing access to long-term capital from a variety of sources is a pivotal element of our strategy, as it enables us to invest in new growth opportunities,” says Kaarlo Höysniemi, SVP Group Treasury.
RELATED NEWS
Archroma Packaging Technologies Joins NC State’s SAFI Consortium
December 3, 2024
UPM Fibres’ change negotiations in Finland concluded
December 2, 2024
Kongskilde Industries Celebrates 75 Years of Innovation and Excellence
November 29, 2024
Valmet to deliver a SymBelt upgrade to Mercer Stendal in Germany
November 29, 2024
Holmen : Print wins in the long run
November 28, 2024
Lecta announces the spin-off of its self-adhesive business
November 27, 2024
Kemira’s change negotiations have concluded
November 27, 2024
Valmet to deliver a modern lime kiln to Kuantum Papers Limited in India
November 25, 2024
Change in Valmet’s Executive Team
November 25, 2024
The ATIP/COPACEL Paper Days were once again full in Paris!
November 25, 2024
SCA signs a new credit facility agreement of SEK 6 billion
November 25, 2024