Further to yesterday's news that Stora Enso is moving its Asian headquarters from Singapore to Beijing, the Finnish paper giant has today announced that it is also establishing research and development facilities there too.
Stora Enso said it had signed a comprehensive framework agreement for co-operation in research and development with the Chinese Academy of Forestry in Beijing which will be implemented over the course of the next year.
The agreement, signed on 27 November 2002, establishes the basis for a wide range of studies in the field of reforestation and use of plantation wood for papermaking, including the use of native poplar trees. This agreement enhances the ongoing joint research work on developing fast-growing southern, mainly eucalyptus, species for efficient use in pulp and paper manufacture.
Stora Enso has had a presence in China since the 1950s but increasingly easy trading conditions and the rapid rise of the Chinese economy has now led the company to expand its interests in the country.
Stora Enso is an integrated forest products company producing magazine papers, newsprint, fine papers, packaging boards and wood products. Its sales total €13.5 billion and annual paper and board production capacity about 15 million tonnes. Some 43 000 persons are employed in more than 40 countries and the company's shares are listed in Helsinki, New York and Stockholm.