The investment, based on peeling technology, is for the production of laminated veneer lumber (LVL) panels and scheduled to start Q2, 2016. The estimated yearly capacity will be around 100,000m3 and is expected to generate annual sales of €50m when run at full capacity.

"With this investment we will be able to meet growing urban construction needs, serve new geographic areas and markets and offer our customers a wider range of wood product solutions," said Jari Suominen, EVP head of Stora Enso’s wood products.

The premises were formerly equipped with Paper Machine 4 (PM4) producing newsprint for 33 years before it finally came to rest.