Helsinki, Finland, 21 December 2011 -- Stora Enso has signed an agreement with the European Investment Bank (EIB) for a EUR 150 million loan to be used for a new containerboard machine investment project at its Ostrołęka mill in Poland. The loan matures in 2023.

"Our co-operation with EIB is good and we are delighted with EIB’s continuing support for our strategically important investments. The investment at Ostrołęka will strengthen our competitive position in corrugated packaging in the growing markets of Central and Eastern Europe, and is one more step in building sustainable and profitable growth for the Group. The new containerboard machine with a modern product and greater capacity than the machine it replaces will not only renew our product offering, it will also improve our overall cost position through efficient internal supply of light-weight containerboard made from recycled fiber,” said Mats Nordlander, executive vice president, Packaging Business Area.

The main items for the Ostrołęka project have been procured and construction work is progressing as planned. The EUR 285 million containerboard machine investment project at Ostrołęka is scheduled to be completed in the first quarter of 2013.

Stora Enso is the global rethinker of the packaging, paper, and wood products industry, offering customers innovative solutions based on renewable materials. Stora Enso employs some 30,000 people worldwide; its sales in 2010 amounted to EUR 10.3 billion. Stora Enso shares are listed on NASDAQ OMX Helsinki (STEAV, STERV) and Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY) in the International OTCQX over-the-counter market.