Metsae Tissue Corporation
Metsae Tissue announces a major investment programme in Poland
Metsae Tissue Corporation 20.04.2011 12:20 --------------------------------------------------------------------------- Espoo, Finland, 2011-04-20 12:19 CEST (GLOBE NEWSWIRE) -- Metsae Tissue, part of the Metsaeliitto Group and a leading tissue and cooking paper supplier Europe-wide, has announced a three-year investment programme to be launched in Poland. The EUR 55 million investment is the biggest ever in Metsae Tissue's history and will be targeted at developing the company's Krapkowice mill in southern Poland into a state-of-the-art production facility. The company's development plan published in May 2010 aims to strengthen the company's market position in Continental Europe, increase its production capacity and enhance its brand, product and service offering. The plan will also enhance productivity by consolidating Polish tissue base paper production at one mill and by further standardising technology. 'The programme includes two new paper machines, related assets and infrastructure as well as a smaller rebuild of Paper Machine 6 in Krapkowice. Two old machines - Paper Machine 11 in Konstancin-Jeziorna close to Warsaw and Paper Machine 5 in Krapkowice - will be closed. The investment programme in Krapkowice will enable a net tissue base paper capacity increase of approximately 35,000 tonnes in Poland,' says Lars Warvne, SVP, Technology and Operations. 'Additionally, a new Away-from-Home converting line will be installed and a new rental converting and warehousing building will be constructed. The move from the old warehouses to one efficient unit will further improve the efficiency of goods handling and delivery service,' Warvne adds. Paper machines and related infrastructure will be supplied by Voith Paper. Thanks to new technology, the mill's energy and eco-efficiency will be further enhanced. The investment programme and related technology standardisation in Continental Europe will increase asset up-time and flexibility, which will further improve the company's supply reliability. The investment will ensure the development of operations in Krapkowice and related job opportunities, which is positive for the entire region. 'The planned actions will strengthen Metsae Tissue's offering to existing and new customers, consumers and end-users. The investment programme will contribute to our productivity and sustainability and ensure that we will further develop ourselves as a reliable long-term partner,' says Hannu Kottonen, CEO of Metsae Tissue. 'This investment is also crucial for the brand growth that Metsae Tissue is pursuing,' Kottonen concludes. Metsae Tissue is a leading tissue paper products supplier to households and industrial 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 production units based in Finland, Germany, Poland, Russia, Slovakia and Sweden. We have some 3,200 employees and our turnover for 2010 was some EUR 940 million. Metsae Tissue is part of the Metsaeliitto Group. For further information, please contact: Hannu Kottonen, President and CEO Tel. +358 (0) 1046 54959, Email: hannu.kottonen@metsatissue.com Marja-Leena Dahlskog, Communications Manager Tel. +358 (0)1046 55149, Email: marja-leena.dahlskog@metsatissue.com News Source: NASDAQ OMX 20.04.2011 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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