Albayrak will buy Holmen's PM 61 at the Madrid site, idled since March last year. For the Turkish group, this marks the beginning of paper operations. Other investments in the sector could follow soon.
The acquisition of Holmen's PM 61 will not be Albayrak's last investment in the paper sector. The Turkish group, operating in several sectors including the construction, logistics and media sectors announced that there were plans for further investments. The group's general manager said that the company was currently watching out for opportunities to acquire a second-hand pulp line. This could happen immediately, if the opportunity arose, he added.
Holmen's PM 61 is Albayrak's first paper machine. According to the general manager, it will be installed at the company's Balikesir site in western Turkey which would also house the pulp line. According to Holmen, Albayrak plans to dismantle the LWC machine at the end of summer. The dismantling is expected to be completed in the first half of 2013.
PM 61 has been idle since the end of March 2011. Holmen shut down the machine claiming it was making losses. The capacity closure was accompanied by several strikes and affected around 170 employees. PM 61 had an annual capacity of 170,000 t of LWC paper.
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