Helsinki, Finland 07 May 2010 -- Stora Enso has signed an agreement with the European Investment Bank (EIB) for a EUR 165 million loan to be used for research and development. The loan agreement is part of the commitment by EIB to lend altogether EUR 230 million to Stora Enso, including the EUR 65 million loan announced on 10 February 2010.
This is EIB's third loan for Stora Enso's research and development projects.
“Stora Enso invested EUR 71.1 million in research and development in 2009," said Markus Rauramo, Stora Enso CFO. Research and development concentrates on steering of networked strategic research and operations and product development in three research centers: Imatra in Finland, Karlstad in Sweden, and Mönchengladbach in Germany. The Packaging Business Area, for example, focuses its research and development on sustainable fiber-based packaging materials and solutions.
Stora Enso is a global paper, packaging, and wood products company producing newsprint and book paper, magazine paper, fine paper, consumer board, industrial packaging, and wood products. The Group is the world leader in forest industry sustainability. Stora Enso offers its customers solutions based on renewable raw materials. Its products provide a climate-friendly alternative to many nonrenewable materials, and have a smaller carbon footprint. Stora Enso is listed in the Dow Jones Sustainability Index and the FTSE4Good Index. Stora Enso employs some 27,000 people worldwide. Sales in 2009 amounted to EUR 8.9 billion. Stora Enso shares are listed on NASDAQ OMX Helsinki (STEAV, STERV) and Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs(SEOAY) in the International OTCQX over-the-counter market.