Norhaven spends PLN 103m in Skolwin paper mill

APA - Austria Presse Agentur
opublikowano: 01-02-2006, 16:36

Warsaw (Puls Biznesu) – Danish published will invest EUR 14m in a paper mill it bought for PLN 50m in December.

Warsaw (Puls Biznesu) – Danish published will invest EUR 14m in a paper mill it bought for PLN 50m in December.

Skolwin paper mill located in Szczecin, west-northern Poland, which was put up for sale in August 2005, will soon get fresh cash injection. Its new investor, Danish Norhaver, has investment plans.

“We will spend EUR 7m for equipment plus EUR 7m in heating system”, Klaus Sorensen, Skolwin general director said.

The modernization of the machine park, will allow for increasing the capacity. Today, Skolwin produces 55,000 tones of newspaper paper and 6,500 tones of other paper.

“We plan to produce 60,000 tones of newspaper paper and 20,000 tones of the other kind”, Klaus Sorensen said.

The new investor is not going to fire employees.

“We have no such plants for the time being but the company needs trimming”, the general director said.

There are 350 workers in the paper mill.

“We estimate that further 250 are employed in companies who do business with Skolwin. We are very glad that the plant found an investor which was not easy”, Janusz Gawronski from the investor centre said.

The Skolwin plant went bankrupt with PLN 150m of debts. It belonged to the state in the past, then to private investors. Last year, it had PLN 80m (EUR 21m) of sales. This year’s plans amount to PLN 100m.

Norhaven is a Danish book publisher. It has sever printing houses in Denmark and Europe. The company is listed in the Copenhagen Stock Exchange. In 2004, it had DKK 814.2m of sales and DKK 93m of EBITDA. It employs 779 workers.

(PLN 1 = EUR 0.263)

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