UPM announces that it will invest EUR 160 million in Kymi pulp mill to strengthen its position in the growing end use segments of the global pulp market.
“Kymi is a profitable and competitive pulp mill in comparison with the world’s leading pulp mills. Our EUR 160 million investment will result in a significant capacity increase with competitive costs and low risk,” says UPM’s President and CEO Jussi Pesonen.
“We have set ourselves clear targets for growth initiatives in pulp production, biofuels, speciality papers in Asia and label materials for the coming three years. With these initiatives we are targeting an additional EUR 200 million EBITDA when in full operation. The Kymi investment will bring a significant contribution to this,” says Pesonen.
With the investment Kymi’s annual pulp production capacity will increase by 170,000 tonnes up to 700,000 tonnes of bleached northern softwood and birch pulp. The Kymi investment makes a significant part of UPM’s earlier announced target to reach a 10 % increase in its 3.3 million tonne pulp capacity over the next three years.
The investment at Kymi mill will begin immediately comprising a new pulp drying machine, modernisation of the softwood fibre line, a new debarking plant as well as improvements in the energy balance of the Kymi integrate consisting of pulp and paper mills.
