NORWAY -- Borregaard says it will invest NOK 115 million ($13.5 million) in increased capacity for Ice Bear products in Speciality Cellulose. This investment will be finalized in the second half of 2018, and will bring Borregaard's Ice Bear capacity to approximately 60,000 tonnes.

The Ice Bear project is Borregaard's main initiative to drive further specialisation by developing new "niches within the niches" products as well as solidifying existing market positions within speciality cellulose.

The initial Ice Bear investment has proven that Borregaard's technology will enable the company to deliver world class quality into segments with the strictest quality requirements. The new investment enables a more optimal production process in addition to the increased capacity.

The ramp-up of the Ice Bear production will be based on market demand. The volume potential for Borregaard is, as previously communicated, estimated to be around 20-30,000 tonnes per year by end of 2018.