Metso Paper has signed a Letter of Intent with Ecco Development Ltd. to supply a newsprint machine line for Ecco Newsprint's new recycled newsprint mill in Teesside, England. The new mill is planned to be started up in the first quarter of 2009.
The Letter of Intent includes an order to start the engineering work. The value of the complete order will be disclosed when the purchase agreement has been signed.
The project is subject to Ecco's execution of a number of related agreements for the financing, construction and operation of the mill, which are well advanced, and which Ecco will announce in the near future.
Ecco has already been granted planning consent by Redcar and Cleveland Borough Council permitting construction to start at Ecco's site at Wilton International on Teesside.
Ecco Development, founded in 2004, is focused on developing, building and operating a recycled newsprint mill in the United Kingdom.