Investments

Capital expenditure is was EUR 118 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 first quarter of 2022.

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 Q1/2021.

Insulation

An investment of EUR 7 million to a new new coating machine to enable formaldehyde free balancing and finish foils for furniture, as well as building and construction industries. The investment is expected to be completed in the fourth quarter of 2021. The investment will also reduce CO2 emissions and increase production capacity.

Completed strategic investments - production ramp-up ongoing

Release Liners, Filtration

  • New co-generation plant at Turin site in Italy. The investment allows the combined and efficient generation of power and steam needed for the site processes.
  • The investment was approximately EUR 15 million and was completed by the end of 2020.

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: December 2020

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