Stora Enso, a renewable packaging products company, has announced a €30m ($32.52m) investment to enhance its Ostrołęka corrugated packaging production in Poland.
This move aims to meet the increasing demand for sustainable packaging solutions and improve operational efficiency.
The investment includes a new 2.8m-wide corrugator, among other upgrades.
In addition, the investment will strengthen the integration with its containerboard business.
The company’s corrugated products serve various industry segments, including food and beverage, electronics, furniture, and e-commerce.
Stora Enso Packaging Solutions EVP Ad Smit said: “We want to be the first-choice partner for corrugated packaging solutions in Europe. This investment demonstrates our dedication to further strengthen our position in this area and serve our customers even more efficiently than today through our modernised production in Poland.”
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By GlobalData
Construction is scheduled to commence in the third quarter of 2024 and is expected to conclude by the end of 2025.
In addition to the investment, Stora Enso has made significant executive appointments.
Niclas Rosenlew has been appointed group CFO and will succeed Seppo Parvi, who is leaving the company.
Currently serving as group CFO at SKF, a Swedish stock-listed industrial company, Niclas Rosenlew brings extensive financial experience from previous roles at Basware, Microsoft, and Nokia.
The company also appointed Carolyn Wagner as executive vice-president of the Packaging Solutions division, taking over from the retiring Smit.
Both Wagner and Rosenlew are set to join Stora Enso by January 2025 and will be part of the company’s group leadership team.
In May this year, Stora Enso postponed its decision to convert two paper machines at its Langerbrugge site in Belgium into a high-volume recycled containerboard line.
