Horizon Pulp & Paper Reports Profitable 2010

Feb. 18, 2011 - Estonian sack kraft producer Horizon Pulp & Paper reported sales of EUR 52 million and net profit of EUR 8.6 million, which resulted in a net profit margin of 16.5%, for its full year 2010.

Ashwani Sharma, CEO, Horizon Pulp & Paper.

“In 2010 we saw a broad recovery in the global paper markets and our sales efforts materialized in constantly increasing supplies to Horizon's regular and new clients,” said Ashwani Sharma, Horizon's chief executive officer.

“Horizon's production volume has never been as high as last year and we had exceptionally intensive year with monthly average output of 6000 tons,” Sharma said.

Sharma said that the company expects the upward trend to continue for the winter months, which usually have been a time of lower demand.

“Market outlook remains positive in Asia, Africa, South America and we hope to see more sustainable markets also in Europe,” Sharma added.

Sharma noted that the improved financial results encourage the company to move ahead with investments in 2011, some of which have already started.

Located in the Republic of Estonia (a state in the Baltic Region of Northern Europe), Horizon Pulp & Paper operates Kehra mill with three paper machines — PM 1, PM 2, and PM 3 — that have an annual capacity to produce 64,000 tonnes of kraft paper, including semi and fully extensible sack kraft, wrapping kraft and some speciality grades.

Horizon is owned by Tolaram Group (Singapore).

SOURCE: Horizon Pulp & Paper