Dec. 12, 2008 - The Board of Directors of CPH Chemie + Papier Holding AG have given the green light to its subsidiary, Perlen Papier AG, to move ahead with plans to construct a new newsprint machine at the company's mill in Switzerland.

The machine project will be a CHF 500 million (approx. USD 424 million) investment.

The new machine, PM 7, will have a capacity of 360,000 metric tons per year and replace an existing machine (PM 5) that has a capacity of 130,000 tpy.

Start-up of the new machine is expected in the third quarter of 2010.

Perlen Papier AG produces a total of 320,000 tons of newsprint and magazine paper per year on two paper machines. The mill employes 380 people.

SOURCE: Industry Reports