Penza, Russsia 06 October 2014 -- Joint venture OOO Mayak-Technocell (MTC) is poised to invest in a new paper machine in Penza, Russia over the next two years.

Planning and design work has now begun after the stakeholders signed off on the project. The new PM 6 will have an annual capacity of about 30,000 tonnes of decor paper and non-wovem wallpaper and is scheduled to start operating in the first quarter of 2017. The project reportedly involves an investment of some €50m.

MTC, the joint venture between the Russian paper producer Mayak OAO (60 % stake) and Felix Schoeller GmbH & Co KG (40 % stake) was founded in June 2006.