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Stora Enso signs loan agreement for R&D

May 7 2010  Stora Enso has signed an agreement with the European Investment Bank, EIB, for a 165 million Euros loan to be used for research and development.

The loan agreement is part of the commitment by EIB to lend altogether 230 million Euros to Stora Enso, including a 65 million loan announced in February."We have a long and good relationship with EIB. This is its third loan for Stora Enso's research and development projects, and we are pleased with the competitive terms of the loan,” says Stora Enso's CFO, Markus Rauramo.“Stora Enso invested 71.1 million Euros in research and development in 2009. R&D concentrates on steering of networked strategic research as well as operations and product development in three research centers: Imatra in Finland, Karlstad in Sweden and Mönchengladbach in Germany,” says Jukka Kilpeläinen, Senior Vice President, R&D.

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