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|Date:||30 August 2012|
The EBRD is promoting energy efficiency solutions in Poland with a €35 million, 8.5 year loan to Metsä Tissue Oyj to finance an investment programme which will be part of the operational restructuring and consolidation of Metsä Tissue’s Polish operations and follow-on capex to its Russian operations.
Specifically, the proposed modernisation programme will improve energy and resource efficiency, reduce air emissions (SO2, CO2, NO, dust) and consumption of water and electricity and ensure the Krapkowice mill in Poland to achieve compliance with EU Best Available Techniques for pulp and paper manufacturing.
Metsä Tissue, based in Finland, is one of the leading European suppliers of tissue and cooking paper with sales of €1 billion. The company is part of Metsä Group with €5.3 billion sales and 12,500 employees, owned by Metsäliitto Cooperative.
“The loan to Metsä Tissue is an excellent example of what the EBRD can offer to the real economy in a highly competitive market such as Poland,” said Lucyna Stanczak, EBRD Director for Poland. “We are providing long-term funding to strengthen sustainable growth and improvement of its energy management. We believe that our financing will contribute to successful operational restructuring and support of energy efficiency investment in the corporate sector,” she added.
“The project gives the EBRD an opportunity to support Metsä Tissue Group in its drive to bring the most modern and efficient solutions to the market and become the benchmark for the industry,” added Frederic Lucenet, EBRD Director for Manufacturing and Services.
“The EBRD financing will support Metsä Tissue in its funding needs for capital investment, which at the same time contribute to environmental and energy efficiency improvements. Moreover, the collaboration with the EBRD further strengthens our position as a company which is strongly committed to the promotion of sustainable business solutions,” said Markus Holm, Chief Financial Officer of Metsä Tissue Oyj.
Since the beginning of its operations in 1991, the EBRD has invested over €5.5 billion in Poland in more than 300 projects with a total value of over €28 billion. In addition to its wide product range for banks and companies, in recent years the Bank has also built a growing portfolio of investments in energy efficiency, renewable sources of energy and environmental upgrades in the country, for which demand remains high.
Last updated 30 August 2012
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