UPM Slates EUR 370 Million for Finnish Mill Projects
March 8, 2006 - UPM said that it will spend a total of EUR 370 million in a pulp mill rebuild and a paper machine conversion project in Finland.
The pulp mill project involves the rebuild of the recovery plant at the Kymi pulp mill. The upgrade is focused on improving the mill's cost competitiveness and product quality. In addition, the pulp mill's energy efficiency will be improved and fossil carbon-dioxide emissions will be decreased, UPM said. This portion of the project is valued at EUR 325 million.
UPM expects the rebuild to be completed in the last quarter of 2008.
The other project involves a paper machine conversion project at the Jämsänkoski mill, where a coated paper machine, PM 4, will be converted to produce label papers. UPM will spend EUR 45 million on the conversion project, which is expected to be completed in the second quarter of 2007.
The annual production capacity of the new PM 4 will be 120,000 tonnes, UPM said.
UPM also said that a previously announced project regarding the company's plan to invest in a new paper machine producing magazine (SC) papers in Continental Europe has been postponed to a later date.