HELSINKI, Finland, July 20, 2018 /PRNewswire/ -- STORA ENSO OYJ INVESTOR NEWS 20 July 2018 at 9.29 EEST
Stora Enso has decided to install a new steam turbine with a closed-loop cooling system and additional biomass storage at its mill in Maxau, Germany. The investment cost is approximately EUR 25 million and implementation of the project is scheduled to start during the third quarter of 2018 with completion in 2020.
Stora Enso wants to secure the long-term profitable energy production in Maxau Mill by increased electricity generation and higher efficiency. The new 57 MW extraction-condensing turbine complements the existing Combined Heat and Power (CHP) plant which started up in 2010. The investment will reduce the energy cost and secure long term cost competitiveness of the paper mill. Once installed, the payback time will be around four years.
The investment contributes to Stora Enso's carbon neutral roadmap and science-based targets through higher share of biomass and higher efficiency (>50 000t CO2 savings per year). The closed loop cooling system will relieve the Rhine River significantly by less thermal output and considerably lower river water extraction.
"We are happy to announce this important investment which underpins our long-term commitment to serve our customers with high-quality paper products from cost-efficient and sustainable operations. It also highlights our ambition to replace fossil-based materials and to contribute to a greener economy," says Kati ter Horst, EVP Head of Paper Division.
Located on the Rhine River near Karlsruhe in southwest Germany, Maxau Mill is the key pillar in the Uncoated Magazine Paper (SC) product segment. The mill is strategically and geographically well located to serve its customers, including major European publishers, retailers and printing houses. It has a short distance access to all raw materials and biofuels. The two paper machines produce approx. 530 000 tonnes of uncoated magazine papers per year. Paper for Recycling (PfR) serves as the main raw material for the paper production.
Part of the bioeconomy, Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wooden constructions and paper globally. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has some 26 000 employees in over 30 countries. Our sales in 2017 were EUR 10 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY). storaenso.com
For further information, please contact:
SVP Communications, Paper Division
SVP, Investor Relations
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SOURCE Stora Enso Oyj