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Stora Enso announces investment

HELSINKI (News release) -- Stora Enso says it has decided to invest Euro 45 million in a new production unit for cross laminated timber (CLT) in connection with its Gruvön mill in Sweden. 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 cubic metres after ramp-up, subject to required approvals being in place. The investment is expected to generate annual sales of approximately Euro 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%.

The green field investment is made as an extension of the existing Gruvön sawmill. The construction is expected to start by the end of the fourth quarter of 2017. Stora Enso invests in advanced technology, which together with completely integrated production, will ensure cost efficient solutions for customers and premium products to the market.

The investment is subject to receipt of final regulatory permits and approvals.

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