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Stora Enso Packaging Increasing Investment in Russia

Press release from the issuing company

4/9/01 - Stora Enso’s subsidiary ZAO Stora Enso Packaging will expand the production capacity of its Balabanovo plant in Russia. The Balabanovo plant manufactures corrugated board and boxes. The total investment in expanding the premises and adding new converting lines at Balabanovo will be EUR 14 million. This additional capacity will enable ZAO Stora Enso Packaging to respond to the rapidly increasing demand in Russia and improve customer service. The annual converting capacity of the Balabanovo plant will increase from 70 million m2 to 105 million m2, and the number of employees will increase by 35. The new capacity is expected to be in operation in March 2002.