Stora Enso Slates EUR 165 Million Loan Towards R&D
May 7, 2010 - Stora Enso said that it has signed an agreement with the European Investment Bank (EIB) for a EUR 165 million loan to be used for research and development. The loan agreement is part of the commitment by EIB to lend altogether EUR 230 million to Stora Enso, including the EUR 65 million loan announced on February 10, 2010.
"Stora Enso invested EUR 71.1 million in research and development in 2009," said Jukka Kilpelaeinen, senior vice president, Group R&D.
"Research and development concentrates on steering of networked strategic research as well as operations and product development in three research centres: Imatra in Finland, Karlstad in Sweden and Monchengladbach in Germany.
"The Packaging Business Area, for instance, focuses its research and development on sustainable fiber-based packaging materials and solutions," Kilpelaeinen added.
SOURCE: Stora Enso