Sappi confirm investment plan in Finland

Sappi Fine Paper Europe has confirmed investment plans over the next three years amounting to approximately EUR 120 million for its two leading coated graphic paper mills, in Austria and Finland. The investment in Kirkniemi coated magazine mill in Finland, one of Europe's largest, entails the building of a new power plant on the mill site, significantly improving cost competitiveness and profitability. For the Sappi Gratkorn Mill in Austria, the investment will focus on upgrading pulp production facilities, as well as papermaking capabilities. The investment is aimed at securing sustained cost reductions, increased flexibility in production and further improved profitability rather than at increasing capacity. Gratkorn currently produces almost one million tons of coated woodfree paper per year.