Kruger invests $316M in Memphis tissue plant
Investment will boost annual production by 60,000 tonnes
MONTREAL: Kruger Products L.P. has announced it will invest US$316 million to buy new equipment for its manufacturing facility in Memphis, Tenn.
The company expects the investment to boost its production capacity by 18 per cent, or 60,000 tonnes per year.
Since Kruger acquired its tissue mills in 1997, it has made investments of over $450 million in its four Canadian mills, including $230 million to modernize its Crabtree (QC) facility.
The project, which involves the investment of a new tissue machine and new facility to accommodate this new asset, is partly financed by a US$211 million loan from the Caisse de dépôt et placement du Québec, a Canadian institutional fund manager.
Kruger Products L.P. is a Canadian manufacturer of tissue products for household, industrial and commercial uses, employing 2,500 people and operates four Canadian manufacturing facilities.