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Stora to spend €46 mln on cardboard units in East Europe

Stora Enso Oyj, Europe's biggest papermaker, will add factories in Russia and Hungary and a production line in Poland to tap demand for corrugated cardboard.

The Helsinki-based company will build a plant for printed, fluted cardboard at its existing facility in Balabanovo, southwest Russia, at a cost of €23 million ($30 million), Stora said today in a stock exchange statement. The Hungarian plant involves a €15 million investment and will be located in Komárom, where Stora has no existing facilities the company said. Like the Russian plant, it will make printed consumer packaging from fluted cardboard. Stora will expand its Lodz, Poland, plant with a new unit that will produce heavy cardboard boxes at a cost of €8 million, the company said. All three units will be ready to start production next year. (Bloomberg)