Stora Enso, the Northern European leading provider of renewable solutions in packaging, biomaterials, wood and paper on global markets, is investing a total of approximately 63 million euro to further improve competitiveness in strategic growth areas in China and Sweden in the Consumer Board and Biomaterials divisions. The Nordic company will invest 31 million euro in a new polyethylene (PE) coating line in the new consumer board mill in Beihai, China. The Beihai Mill is expected to be in operation during the second quarter of 2016, as communicated earlier. 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.
Another important step on the road to Stora Enso’s transformation into a renewable materials company. The pulp and paper manufacturer headquartered in Helsinki, Finland, inaugurated yesterday the new Innovation Centre for biomaterials in Stockholm, that will host research, application, business development and strategic marketing under one roof.
Stora Enso, the Finnish pulp and paper manufacturer, will concentrate its new biomaterials business development in an Innovation Centre that will be located in the Stockholm area in Sweden. The centre, which will open during the second quarter of 2015, will host research, application, business development, and strategic marketing. The centre will boost innovation by identifying business opportunities in the renewable materials market and linking them with leading innovation and research centres in business and academia. It will be staffed with Stora Enso employees currently working in Sweden, Finland and Germany. It will initially employ a little less than 60 people and is estimated to employ around 75 people by year end 2015. Stora Enso’s other R&D units are not affected by this change and will remain in their current locations.