January 27 (SeeNews) - Finnish developer and supplier of technologies and services for the pulp, paper and energy industries Valmet will supply a board machine rebuild to Umka Cardboard Mill in Serbia, Valmet said on Monday.
The main objective of the rebuild is to increase Umka's production capacity, Valmet said in a statement.
The start of the rebuilt paper machine is scheduled for the second half of 2021 .
The value of an order of this type is typically between 15 million euro ($16.5 million) and 20 million euro, Valmet said.
"This rebuild is one of the most important strategic decisions we have made in the course of 80 year long history of the mill," the managing director of Umka, Milos Ljusic, noted.
Umka Cardboard Mill has been a part of Cyprus-based Kappa Star Group since its privatisation in 2003. Umka’s current production capacity is 130,000 tonnes per year. The company exports over 80% of its production to over 30 European countries.
($ = 0.907485 euro)