Syktyvkar Tissue Group, one of the largest tissue companies in Russia, brought online a new production unit with capacity to produce 35,000 tons of tissue and base paper per year.
This new production facility represents the largest investment project envisaged in STG's development strategy for the period 2011-2015. The total size of investment in this facility is estimated at about $100mln (RUB 2.8bln).
"We continue to enhance and modernise our operations across the business, and with the launch of this new production facility equipped by our Swedish partners Metso, we have also significantly increased our annual production capacity to 85 thousand tons. This is an important step forward for us, and will enable us to meet effectively the demands of our customers in the rapidly growing tissue paper market," said Mark Reznik, CEO of STG.
"The launch of this new facility represents a key milestone for the company, which continues to demonstrate strong results," said Andrey Yakunin, Managing Partner of investment fund VIYM, an investment partner in this project. "This will not only help the company to increase its level of productivity, but it will also help to expand significantly its product range in a market segment that has colossal scope for further growth in Russia and the CIS."
