Stora Enso sets Ybbs focus
A Finnish packaging and wood products firm plans to invest more than 20 million Euros in Lower Austria, it has emerged.Stora Enso announced today (Tues) that it will start setting up a new facility to produce wood boards and various other wood elements this spring. The Helsinki-based firm explained that it planned to invest 23 million Euros into the creation of the plant in Ybbs where it has done business for some years. It said the new facility will start to operate in the third quarter of 2012.Stora Enso has laid off thousands of staff in it its sawmill factories in Finland during the past few years. It had staff in 15 European countries as well as in the United States, China, Brazil, Uruguay and Russia in 2009. Stora Enso had a 26 per cent market share for wood products in Austria that year, two per cent more than in Finland or any other country.