The MM Group has recently approved a comprehensive investment project that seeks to enhance the long-term competitiveness of its largest board and paper mill, MM Kwidzyn, located in Poland. The investment, amounting to approximately EUR 660 million, will be allocated to three main areas, namely: energy and CO2 cost reduction, pulp integration, and entry into the market for sack kraft papers, with the ultimate aim of positioning the mill for sustainable future success.

The first part of the investment project involves the procurement of a new recovery boiler and a new steam turbine, which is expected to significantly decrease energy costs and reduce the mill's carbon footprint. The move is designed to meet future market requirements and achieve the goal of "Net Zero Carbon Emission." Additionally, a second pulp line and a pulp dryer will be acquired to increase the share of green energy, leading to better vertical integration and a reduction in the mill's reliance on market pulp.

Simultaneously, paper machine 1 (PM1) is to be converted from producing copy paper to sack kraft paper, with the aim of investing in the burgeoning market for sack kraft papers and reducing the mill's exposure to the declining copy paper market.

The implementation of the investment project is scheduled for the years 2023-2026, with disbursements set to continue until 2027, subject to certain conditions. The financing of the project is expected to be derived from internally generated resources.

The MM Group is a leading global producer of cartonboard and folding cartons with an attractive offering in kraft papers and uncoated fine papers for various end applications. The company is committed to promoting sustainable development through innovative, recyclable packaging and paper products.