Holmens president and chief executive Gran Lundin said the purpose of the investment was to raise both the quality and profile of its product range.
One of Workingtons board machines, BM2, will be modernised to improve quality and consistency, in an investment totalling 12m. The project is expected to be completed by the end of 2004.
The Swedish manufacturer will invest 17m at its Holmen Paper Braviken mill.
This will involve a modernisation of its PM52 newsprint line to improve quality and increase capacity.
One of the mills pulp lines will be enhanced to produce thermomechanical pulp, to increase its strength and capacity.
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