| Stora Enso To Invest EUR 25.3 Million In Its Operations In Oulu Mill |
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| By Sharat Khungar | ||||||
| Tuesday, 31 October 2006 | ||||||
 Forestry group Stora Enso, whose headquarters are in Helsinki, announced that it has approved three separate investments totalling over 70 million euros for its Oulu Mill and two other mills. According to the company, the economic recovery in Europe is expected to continue to support the paper markets which will be good news for industry in Oulu.According to the company, Stora Enso is investing EUR 25.3 million in a new sheeting line at its Oulu Mill. The purpose of the investment is to allow a larger proportion of the mill's paper output to be sheeted at the mill site although Oulu Mill's annual production of paper will remain unchanged. The investment will also enable the Oulu Mill to augment its core markets in Eastern and Central Europe. Stora Enso has some 46 000 employees in more than 40 countries on five continents. Some 15000 employees or approximately 34% of the total number of employees are working in Finland. Stora Enso (formerly Stora Kopparbeg) is one of the oldest companies in the world, having been granted a chater by the Swedish King in 1347. It sold its first share in June 1288. Links: Stora Enso :http://www.storaenso.com Press Release: http://www.storaenso.com/CDAvgn/main/0,,1_EN-8070-16736-,00.html
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