Vallvik, Sweden 01 September 2016 -- Rottneros Packaging AB and Rottneros Bruk AB are participating in a new project, PULPACKTION, to develop completely bio-based packaging trays.
PULPACKTION is a project funded by the Bio Based Industries Joint Undertaking within Horizon 2020, the EU program for research and innovation, and involves 12 partners within the Union. The total scope of the project is just under SEK 120 million and is financed to 74 percent by the EU. Rottneros, with its vast expertise in the manufacturing of special pulp and moulded fibre trays will get the biggest part of the budget, approximately 25 million, and will therefore also be the coordinator of the project. In addition to project coordination, Rottneros will lead work streams within the tray moulding and pulp development. The project will begin 1 October 2016, and runs for four years.
Rottneros Packaging is already leading in trays made of fibre and has a great knowledge of the development of these. The packages produced by Rottneros today are mainly bio-based. With the innovation project PULPACKTION the objective is to develop a completely bio-based packaging at a competitive price, and thus contribute to a more sustainable development in the packaging industry.
The Board of the Rottneros Group has also made a strategic decision to grow in the area of sustainable packaging. The initiative is a way to meet the increased demand for fossil-free products and is an important part of the Group's growth ambitions.
This information is information that Rottneros AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8.30 a.m. CET on 1 September 2016.
Rottneros is an independent producer of market pulp. The Group comprises the parent company Rottneros AB, listed on NASDAQ Stockholm, and its subsidiaries Rottneros Bruk AB and Vallviks Bruk AB with operations involving the production and sale of market pulp. The Group also includes the wood procurement company Rottneros Baltic SIA in Latvia. The Group has just over 260 employees and had a turnover of approximately SEK 1.8 billion in the 2015 financial year.