Ground-breaking ceremony for the most modern newsprint machine in the world in Perlen (LU)
CHF 460 million for financing the investment all arranged – Forty new jobs – Production to start 1 October 2010
CPH Chemie + Papier Holding AG has launched by far the largest investment project in its history with today’s ground-breaking ceremony for the new build of the world’s most modern installation for the production of top grade newsprint in Perlen (LU) (SIX: CPHN). About CHF 460 million will be invested in the construction of the production building, the necessary expansion of the ancillary plant and in the 130 meter long paper machine. It is one of the biggest investment projects currently underway in Swiss industry. Approximately 60 percent of the costs will be financed from the company’s own coffers while the remaining 40 percent will be covered by a syndicated loan, with UBS acting as lead bank. Forty new jobs will be created to handle the planned four-shift operation of the plant from the production start-up date of 1 October 2010.
CPH to invest CHF 500 million in Perlen paper mill
Production capacity to be almost tripled
At its meeting today the Board of Directors of CPH Chemie + Papier Holding AG decided to replace the current newsprint machine with a new facility that is vastly more functional and correspondingly more cost-effective. The sum involved is in the region of CHF 500 million. The new machine is due to be put into service in autumn 2010.
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