HELSINKI (News release) -- Stora Enso says it will invest Euro 94 million to grow in renewable materials and to increase competitiveness in consumer board and biomaterials.

Euro 52 million will be invested to increase the dissolving pulp production capacity at Enocell Mill and Euro 42 million to enhance the availability of the chemi-thermomechanical pulp (CTMP) at Imatra Mills. Both mills are located in Finland.

Enocell Mill, part of the Biomaterials division, will be converted to focus entirely on production of dissolving pulp. The softwood pulp production will be gradually discontinued after the investment. The mill will have a total capacity of 430,000 tonnes dissolving pulp annually, whereof 185,000 tonnes hardwood and 245,000 tonnes softwood dissolving pulp. The investment is scheduled to be completed during the second half of 2019. It is expected to exceed the Biomaterials division's profitability target, operational return on operating capital (ROOC) of 15%, and to have a positive impact on sales.

The investment at Imatra Mills, part of the Consumer Board division, includes a new CTMP drying and re-pulping plant as well as extension of the pulp warehouse. This aims to enhance the availability of CTMP and to drive the commercialisation of micro-fibrillated cellulose (MFC). Due to its high strength and 100% renewable raw materials, MFC is designed to outperform fossil-based materials, such as plastics, in a variety of applications.

The project is scheduled to be completed in the first half of 2019. The investment is expected to exceed the Consumer Board division's profitability target, operational return on operating capital (ROOC) of 20%, and to have a marginal impact on sales.

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