Slovenian hygienic paper products maker Paloma will invest 2.8 bln Slovenian tolars ($13.7 mln/12 mln euro) in the opening of a new production line for toilet paper and kitchen towels in 2003, the company said on May 15, 2003.
Slovenian Paloma To Invest 12 Mln Euro in Production Line
Slovenian hygienic paper products maker Paloma will invest 2.8 bln Slovenian tolars ($13.7 mln/12 mln euro) in the opening of a new production line for toilet paper and kitchen towels in 2003, the company said on May 15, 2003.
The company invested an equal sum in the construction of a waste water treatment plant in 2002. Paloma received an ISO 14000 certificate for environment friendly operation, an ISO 9000 quality certificate and an Occupational Health and Safety Management System (OHSAS) 18001:1999 certificate in the period 2000 to 2003. Paloma plans to double its output by 2007.
The company, which employs 1,234 will celebrate its 130th anniversary in 2003. Paloma's annual production totals 64,000 tonnes of paper products. The company exports 80 pct of its products mainly to Croatia and Germany. Paloma posted a net profit of 527 mln tolars ($2.6 mln/2.3 mln euro) for 2002. The company's net profit totalled 130 mln tolars ($637,000/559,000 euro) in the first quarter of 2003. Slovenian state-controlled funds Kapitalska Druzba (KAD) and Slovenska Odskodninska Druzba (SOD) have a 70 pct stake in Paloma.
