Metsä Tissue to Invest EUR 30 Million in Düren Mill
Metsa, Finland, 02 November 2010 -- Metsä Tissue Corporation, a leading supplier of tissue and cooking papers and part of Metsäliitto Group, today announced plans to invest nearly EUR 30 million in its newly acquired capacity at the Düren mill in Germany. The sum includes approximately EUR 10 million invested in a paper machine (PM5) and 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.
The investment program 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 paper production at the company's Mänttä mill 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 program is a major step in the development of our baking and cooking business,” said Hannu Kottonen, CEO.