Mar 28, 2005. /Lesprom Network/. Somes, a Romanian cellulose and paper producer, said it will invest some 12 million euro ($15.54 million) by the end of next year to upgrade production facilities and boost output. The company plans to nearly double gross profit to 60 billion lei ($2.13 million/1.64 million euro) this year, following investments to be made through 2005, the company's general director Adrian Itu told. Somes' output should rise to 220-240 tonnes of paper per day by the end of 2006, from 130 tonnes now, Itu said. Up to 60% of the investment in the planned upgrades will be borrowed, while the rest will be covered from the company's own funds, Itu added. Somes had a turnover of 1.4 trillion lei in 2004, up from 1.33 billion the previous year. The company exports between 60% and 70% of its production. Main export destinations include Italy, Germany and Poland. Somes raised its share capital in February by 29.5 billion lei (807 million Euro) to 233.1 billion (6,383 billion Euro). Somes is located in Dej, northwestern Romania. It claims to be the leader on the domestic paper and cellulose market, with an annual production of 40,000 tonnes of paper and 70,000 tonnes of cellulose.