January 27 (SeeNews) - Russian pulp and paper company Segezha Group plans to significantly expand its production capacity in Romania, it said on Wednesday.
The expansion of Segezha Packaging Romania's operations will include a new production facility and warehouse, modernization of the existing machinery and a new production line, Segezha Group said in a press release.
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The 2,880 sq m production facility is expected to be completed in October 2021 and will increase capacity by 65%. According to the project timeline, the new equipment is to be delivered by the end of this year. Following the necessary tests and employee training, production is scheduled to start in March 2022.
The group did not disclose the amount it plans to invest in the expansion project.
"Our production plant in Romania is a leading producer on the local market and has been supplying our products for many years now. This investment project to increase our industrial footprint in the country is an exciting milestone in our history," Segezha Packaging CEO Rinat Stark said said.
Segezha Group is a vertically integrated Russian pulp and paper company specialised in the production of sack kraft paper, kraft paper sacks, sawn timber, birch plywood and glulam timber and glulam houses. Segezha Group, owned by Russian conglomerate Sistema, holds long-term leases on 7.4 million hectares of forest and exports its products to about 100 countries worldwide.