Stora Enso secures financing for future R&D
Sept. 29, 2007 - Stora Enso said that it has signed a loan agreement with the European Investment Bank (EIB) for a EUR 140 million loan facility to finance part of the company's investment in research and development in Finland and Sweden for the next five years.
"We have negotiated an agreement that builds on previous transactions with EIB and offers Stora Enso attractive terms that are consistent with our borrowing practices," said Hannu Ryöppönen, Stora's CFO. "This facility adds another source of funding that specifically supports our R&D efforts, which is a function with increasing importance in the future," he added.
Stora Enso has research centers in Finland, Sweden, Germany and the U.S.
SOURCE: Stora Enso