Kruger Products LP, a paper company headquartered in Montreal, has announced plans to invest US$316 million to install manufacturing equipment at its Memphis, Tenn., paper mill. According to Kruger, the investment will increase tissue production at the mill by around 60,000 metric tons per year.
“The proximity of our Memphis mill to growing U.S. markets will further strengthen our competitive position in North America, which will benefit all our establishments in both Canada and the U.S.,” Kruger COO Mario Gosselin, says.
Since acquiring its tissue mills in 1997, Kruger says it has invested more than $455 million to upgrade the mills. The project, including the addition of a new tissue machine and a facility to accommodate the new asset, is partly financed by a US$211 million loan from the Caisse de dépôt et placement du Québec, a Canadian institutional fund manager.
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