POLAND (News release) -- The Management Board and Supervisory Board of Arctic Paper S.A. have adopted a decision to launch an investment project at Arctic Paper Kostrzyn with the aim of expanding the capacity at the mill.

The investment, estimated at Euro 10 million, will be financed with funds from tranche B of the investment loan from the EBRD. Completion of the project is planned for the first half of 2019.

After the investment, the Arctic Paper Kostrzyn mill will increase its annual production capacity to 315,000 tonnes of fine paper, compared with 285,000 tonnes today, an increase of over 10%.

Apart from expanding its capacity, the planned investment will increase the resource and operating efficiency of the Kostrzyn mill. It will increase the competitiveness of the Group's products and influence the Group's future operational results.

Arctic Paper Kostrzyn manufactures high quality uncoated, wood-free paper under the Amber brand. The mill is the largest manufacturer of offset paper in Poland, and the second largest manufacturer of graphic paper.

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