Metsae Tissue Corporation
Metsae Tissue to invest EUR 30 million in Dueren mill and SAGA brand development
Metsae Tissue Corporation 03.11.2010 08:18 --------------------------------------------------------------------------- Metsae Tissue Corporation, a leading supplier of tissue and cooking papers and part of Metsaeliitto Group, has today announced plans to invest nearly EUR 30 million in its newly acquired capacity at the Dueren mill in Germany. The sum includes approximately EUR 10 million invested in a paper machine (PM5), related real estate and infrastructure assets purchased from M-Real in a deal announced last week. The transaction closed yesterday. The mill will specialize in producing the company's baking and cooking papers sold and marketed under the SAGA brand. The investment programme will kick off immediately with a machine rebuild scheduled to be ready during the second quarter of 2011. The rebuilt paper machine will be equipped with enhanced coating options and supported by five converting lines and other related equipment. One of the converting lines is brand-new and the others will be moved gradually from Finland. Converting is scheduled to start up between February and July 2011. Baking and Cooking production at the company's Maenttae will be downsized from two paper machines to one during the first half of next year when the 82-year-old paper machine is shut down. 'This investment programme is a major step in the development of our Baking and Cooking business,' says Hannu Kottonen, CEO. 'With the help of these newly acquired and rebuilt assets, we will further enhance SAGA's product quality and launch new products and categories strengthening the brand. We will do this in close co-operation with our end-users,' says Raija Moro, Senior Vice President, Baking & Cooking business. For further information, please contact: Hannu Kottonen, CEO Tel. +358 (0) 1046 54959 Email: hannu.kottonen@metsatissue.com Raija Moro, SVP, Baking & Cooking Tel. +358 (0) 1046 47610 Email: raija.moro@metsatissue.com Marja-Leena Dahlskog, Communications Manager Tel. +358 (0)1046 55149 Email: marja-leena.dahlskog@metsatissue.com Metsae Tissue is a leading tissue paper products supplier to households and large-scale consumers in Europe. We are also the world's leading supplier of baking and cooking paper products. Our main brands are Lambi, Serla, Mola, Tento, Katrin, Fasana and SAGA. We have 3150 employees and production based in Finland, Germany, Poland, Russia, Slovakia and Sweden. Our turnover is EUR 890 million. Metsae Tissue is part of the Metsaeliitto Group. SAGA is a high-quality brand for consumers and professionals in the baking and cooking markets globally. With its smart, user-friendly features, SAGA makes it easy and inspiring to prepare, cook and serve tasty and healthy food. The SAGA offering consists of multipurpose food-grade and greaseproof cooking and baking papers. SAGA is a registered trademark of Metsae Tissue, the world's leading supplier of cooking papers. News Source: NASDAQ OMX 03.11.2010 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Metsae Tissue Corporation FI Phone: Fax: E-mail: Internet: WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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