Stora Enso Invests in Cross Laminated Timber (CLT) Production
Helsinki, Finland 03 July 2017 -- Stora Enso has decided to invest EUR 45 million in a new production unit for cross laminated timber (CLT) in connection with its Gruvön Mill in Sweden. The investment will further enhance Stora Enso's position as a global provider of high quality engineered wooden elements and as a market leader in CLT. The production is scheduled to begin during the first quarter of 2019. The estimated yearly capacity of the production line will be approximately 100 000 m³ after ramp-up, subject to required approvals being in place. The investment is expected to generate annual sales of approximately EUR 50 million when run at full capacity and over time significantly exceed the Wood Products division's profitability target, operational return on operating capital (ROOC) of 18%. Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wooden constructions and paper on global markets. Our aim is to replace fossil-based materials by innovating and developing new products and services based on wood and other renewable materials. We employ some 25 000 people in more than 35 countries, and our sales in 2016 were EUR 9.8 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY). storaenso.com
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