Stora Enso's LVL mill investment has received a public fund from Sustainable growth and jobs 2014-2020 - Finland's structural funds programme' in the area of Competiveness of SMEs European Regional Development Fund (ERDF) from European Commission.
The aim of the ERDF is to increase employment and strengthen the competitiveness and vitality of regions. In the efforts to increase employment, the focus is on regions with the lowest employment rates.
Stora Enso announced in February 2015 that it is investing EUR 43 million in a new production line for wooden building elements located in Varkaus, Finland. The investment is based on peeling technology which will further enhance Stora Enso’s position as a global provider of high quality engineered wooden elements. The new products complement the existing product portfolio.
In Varkaus, Stora Enso can take advantage of and make best use of the premises available, an industrial infrastructure for efficient logistics, the local supply of raw material to optimise wood sourcing and highly competent workforce. The operational model at the Varkaus sawmill will be reviewed in connection with the production start-up. The estimated total employment impact for the Varkaus region is 150 FTEs.