Palm Paper Ltd., a United Kingdom-based subsidiary of the German companyThe Palm Group, announced plans to build a newsprint mill in the UK. The mill is slated to cost around ₤330 million (US$665 million), and will be capable of producing 400,000 metric tons of 100 percent recycled fiber newsprint.
The mill is expected to open by the second or third quarter of 2009.
The Palm Group, which consists of three paper mills and 16 box plants, is the largest privately owned paper company in Germany.
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