Valmet has signed a EUR 175 million loan with European Investment Bank linked to company’s Research and Development activities also in news Valmet to supply a fine paper making line to Yueyang Forest Paper in China.
Valmet has signed a EUR 175 million loan with European Investment Bank linked to company’s Research and Development activities
Valmet has signed a EUR 175 million loan agreement with the European Investment Bank (EIB). The loan will support Valmet’s Research and Development (R&D) activities to help finance technologies that replace fossil fuels with renewables. The loan agreement is linked to company’s R&D activities in 2023-2026.
The financing aims to enhance the resource and energy efficiency as well as the performance of Valmet’s technology, promote the use of recyclable raw materials and to improve the sustainability of Valmet’s operations. The financing is part of the EIB’s dedicated package of support to REPowerEU — the EU plan to eliminate dependence on fossil fuel imports.
Valmet’s R&D spending was EUR 95 million in 2022. Valmet has 28 research and developments centers around the world and approximately 1,300 protected inventions.
“The aim of Valmet’s research and development work is to create new technologies, products and services that address customer needs and help respond to some of the most important global megatrends: enhancing the efficiency of raw materials, water and energy, promoting the use of renewable raw materials and reducing emissions. We’re happy about this loan agreement as it improves Valmet’s readiness to support the green transition in Valmet’s customer industries,” says Janne Pynnönen, Vice President, R&D, Valmet.
About the European Investment Bank
The EIB is the long-term lending institution of the European Union and is owned by the EU Member States. The EIB Group has adopted a Climate Bank Roadmap to deliver on its ambitious agenda to support €1 trillion of climate action and environmental sustainability investments in the decade to 2030 and to devote more than half of EIB finance to climate action and environmental sustainability by 2025. As part of the roadmap, all new EIB Group operations have been aligned with the goals and principles of the Paris Agreement since the start of 2021.
For further information, please contact: Reetta Antila, Vice President, Treasury, Valmet, tel. +358 50 599 3114
Valmet to supply a fine paper making line to Yueyang Forest Paper in China
Valmet will supply a high-capacity fine paper making line with automation, spare parts and consumables packages to Yueyang Forest Paper in China. The delivery is scheduled for the third quarter 2024.
The order was included in Valmet’s orders received of the second quarter 2023. The value of the order will not be disclosed.
“Valmet has been in China for 90 years, witnessed the rapid and healthy development of China’s pulp and paper industry and participated in it. Therefore, we have a strong connection with Yueyang Forest Paper. From their line 1 project of Juntai pulp mill to the cooperation in the PM 8 project, Valmet and Yueyang Forest Paper have worked closely together, not only building high-quality projects but also deepening the partnership. We feel honored and confident to build the new PM 11 together with them,” says Xiangdong Zhu, Area President, China, Valmet.
Technical information about the delivery
The delivery will include a high-speed fine paper making line from stock preparation to reel and winders with air systems and clothing for the whole production line. The stock preparation delivery will include bale pulping, cleaning and refining, as well as broke, white water and approach flow systems.
The delivery will also include an OptiFlo Gap headbox, an OptiFormer Gap forming section and an OptiPress Linear press section. The drying section will be followed by an OptiSizer Film surface sizer with a supply system and an air turn device, an OptiCalender Soft calender, an OptiReel Center center-driven reel, transfer rails, and OptiWin Drum winders.
The wide automation package includes the Valmet DNA Automation System for process and sectional drive controls, runnability and condition monitoring as well as the Valmet IQ Quality Control System. The delivery will also include paper machine clothing, spare parts and consumables.
The paper machine with a 11,150 mm wide fabric will produce woodfree uncoated, offset, and copy paper grades with the basis weight range of 50–120 g/m2. The design speed of the machine will be 1,800 m/min.
About the customer
Yueyang Forestry & Paper Co., Ltd., formerly known as Yueyang Paper Mill, was founded in 1958 and listed on the Shanghai Stock Exchange in May 2004. The company is a subsidiary of China Paper Corporation, part of China Chengtong Holdings Group Co., Ltd. China Paper Corporation is the only state-owned company mainly engaged in the forest-pulp-paper business.
For further information, please contact:
Petri Rasinmäki, President, Paper business line, Valmet, tel. +358 40 042 8422
Xiangdong Zhu, Area President, China, Valmet, tel. +86 21 39975000
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