The investment, estimated at EUR 10m, will be financed with funds from tranche B of the investment loan from the EBRD. Completion of the project is planned for the first half of 2019.
After the investment, the Arctic Paper Kostrzyn mill will increase its annual production capacity to 315,000 tonnes of fine paper, compared with 285,000 tonnes today, an increase of over 10%.
Apart from expanding its capacity, the planned investment will increase the resource and operating efficiency of the Kostrzyn mill. It will increase the competitiveness of the Group’s products and influence the Group’s future operational results.
Per Skoglund, CEO of Arctic Paper S.A., said, “We have a strong belief in the future and see business opportunities in profitable segments of the fine paper market. With the investment planned at Arctic Paper Kostrzyn we are further strengthening the capacity and operating efficiency at our biggest paper mill, to serve our customers even better.”
Arctic Paper Kostrzyn manufactures high quality uncoated, wood-free paper under the Amber brand. The mill is the largest manufacturer of offset paper in Poland, and the second largest manufacturer of graphic paper.