The money will partly finance R&D work in Finland and Sweden during the next five years and builds on previous transactions with the bank.

Stora Enso‘s chief financial officer Hannu Ryöppönen said R&D was going to become increasingly important in the future.

The company has research centres in Finland, Sweden, Germany and the US, as well as technical organisations in its business units. They co-operate with leading forest cluster R&D providers and technology suppliers.

The research centres have a product focus and are strongly integrated with the business units, combining product-specific expertise with scientific understanding of the manufacture, converting and end uses of the group’s products.