The Board of Directors of KapStone Paper and Packaging Corporation (NYSE: KS) has approved a $29MM investment in the company's North Charleston, SC Paper Mill. The investment is expected to improve the capability and efficiency of No. 3 Paper Machine in producing Ultra High Performance (UPL) lightweight linerboard grades by replacing the press section. The new press section will be supplied by PMT Italia. The investment also includes projects in the fiber and utilities areas to support production of these strategically important grades.
KapStone has become a market leader among independent box makers by developing and selling lighter weight, high performance, virgin-fiber-based kraft linerboard.
Engineering and construction are expected to occur over the next 18 months, targeting installation of the press section during the 1st Quarter 2014.
SOURCE KapStone Paper and Packaging Corporation