Stora Enso Secures EUR 140 Million Loan for Research and Development

Stora Enso invested EUR 81 million in research and development in 2012.

Sept. 26, 2013 - Stora Enso said that it has drawn a EUR 140 million seven-year loan from the European Investment Bank (EIB) to be used for research and development. The interest rate of the loan is 3.3%.

“We have had long and fruitful co-operation with EIB. This is Stora Enso’s third loan from EIB to be used for the Group’s research and development projects. The terms of the loan are competitive,” said Jyrki Tammivuori, acting CFO for Stora Enso.

Bernd Rettig, Senior Vice President, Group R&D and capital investments, added, "Stora Enso invested EUR 81 million in research and development in 2012. The Group’s R&D platforms include bio-based barriers, micro materials, composites, biochemistry and separation technology, and wood-based building solutions. About fifty patent applications were registered in 2012."

Based in Helsinki, Finland, Stora Enso produces paper, biomaterials, wood products and packaging materials. The company's annual production capacity is 5.2 million tonnes of chemical pulp, 12.1 million tonnes of paper and board, 1.3 billion square metres of corrugated packaging and 6.0 million cubic metres of sawn wood products, including 3.0 million cubic metres of value-added products. For additional information, visit: www.storaenso.com.

SOURCE: Stora Enso