Stora Enso Declared New Investment in Corrugated Packaging Production
Paper Recycling | 2024-07-25 21:22:45
The proposed project comprises of installation of a 2.8 meter width corrugator in addition to other upgrades.
By Paul Ploumis
SEATTLE (Scrap Monster): Stora Enso plans to make an investment of EUR 30 million towards upgrading and expanding its corrugated packaging production facility in Ostroleka, Poland. The on-site construction works are expected to commence in Q3 this year, with completion scheduled for end-2025.
The proposed project comprises of installation of a 2.8 meter width corrugator in addition to other upgrades. The investment will further strengthen the company’s market leadership position in renewable materials segment, in addition to making it extremely cost-effective. The upgrades will help Stora Enso to boost the efficiency of its operations, thus making it capable to better meet the growing customer demand for sustainable packaging solutions, said the company news release.
Additionally, the investment is also expected to result in better integration with its containerboard business.
Stora Enso reported 7% year-on-year surge in EBIT margin, with adjusted EBIT rising to EUR 161 million during the second quarter of the year. The sales declined by 3% to total EUR 2,301 million. Meantime, the cash flow from operations totalled EUR 323 million during the quarter. The Q2 performance met the company’s expectations, further reinforcing its upgraded 2024 guidance.
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