Polish tissue paper maker Velvet Care has completed an investment worth more than PLN 250 million ($74 million) to launch a new paper machine.
The machine was produced by Sweden’s Valmet. Owing to the new equipment, Velvet Care will be able to produce more than 100,000 tonnes of tissue paper per year, the company said in a statement.
The latest investment was carried out with the use of funds obtained from BNP Paribas and the European Bank for Reconstruction and Development (EBRD), according to Velvet Care.
Vlet Holdings, a subsidiary of Polish investment fund Abris Capital, recently signed a deal to take over Velvet Care from investment fund Avallon.