Investments

Capital expenditure is expected to be approximately EUR 120 million in 2020 (EUR 161 million in 2019). Annual fixed asset depreciation is about EUR 125 million and maintenance capital expenditure is about EUR 100 million.

Announced investment decisions

Filtration

An investment of about EUR 28 million to expand manufacturing capacity as well as the product capabilities of industrial filtration applications in Turin, Italy as well as in Ställdalen, Sweden and Malmedy, Belgium. The project is expected to be completed during the second half of 2021.

Beverage & Casing

An investment of about EUR 28 million to reinforce its market position in biodegradable and compostable tea bag, coffee and meat casing materials. The project includes purchasing a secondhand paper making line to be dismantled and transferred to the Chirnside manufacturing site in the UK. The machine is expected to be fully commissioned by Q1/2020

Release Liners, Filtration

An investment of approximately EUR 15 million to install a new co-generation plant at its Turin site in Italy. The investment allows the combined and efficient generation of power and steam needed for the site processes. The project is expected to be completed by the second half of 2020.

Completed strategic investments - production ramp-up ongoing

Decor

  1. Enhance the quality of pre-impregnated decor papers produced at Dettingen plant, Germany.
  2. The investment was approximately EUR 5 million in the Decor business, ramp-up started Q1/ 2019

Food Packaging

  1. Installation of a new parchmentizer line at the Saint Severin plant, France.
  2. The investment was approximately EUR 7 million, ramp-up started Q3/2018

Filtration

  1. Enhance the quality and widen the range of engine and industrial filtration materials being produced at the Madisonville plant in Kentucky, US
  2. The investment was approximately EUR 23 million, ramp-up started H2/2018

Abrasive backings

  1. Paper machine rebuild at Arches plant, France, to provide incremental capacity. After the rebuild, the machine continues to be able to produce both decor and abrasive backings.
  2. The investment was approximately EUR 14 million, ramp-up started Q1/2018 

North America Specialty Solutions

  1. New silicone coater providing incremental coating capacity and ability to increase production of a wide range of high-margin coated products.
  2. The investment was approximately EUR 14 million, ramp-up started Q1/2018

Insulation

  • Modernizing a bailing line at the Aspa pulp mill
  • The investment was EUR 4 million, ramp-up started in Q2/2019
  • Rebuild of a recovery boiler at the Billingsfors plann in Sweden
  • The investment was EUR 23 million, ramp-up started in Q3/2019

Coated Specialties

  • Expand capabilities of coating and calendering at the Jacarei plant in Brazil
  • The investment was EUR 21 million, ramp-up in Q3/2019

Medical

  • Rebuilt a converting line of sterilization wrap being produced at its Pont Audemer plant in France
  • The investment was about EUR 4 million, rampi-up in Q1/20

Updated: April 2020

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