July 24, 2019
The daily brief: 24 July 2019
KONE is involved in a massive renovation of the Atocha railway station in Madrid, Spain.
All the daily Finnish business news that works: UPM, KONE and Metso make headlines.
UPM is investing heavily in a new pulp mill in Uruguay, KONE will modernise lifts and escalators at Madrid’s historic Atocha train station, and Metso is establishing a business services centre in Vilnius, Lithuania.
Finnish forest industry company UPM has decided to invest 2.7 billion US dollars (approx. 2.4 billion euros) in a 2.1 million-tonne greenfield eucalyptus pulp mill to be located near Paso de los Toros in central Uruguay. The mill will increase UPM’s pulp capacity by more than 50 per cent once it becomes operational in the second half of 2022. In addition, UPM will invest 350 million US dollars (approx. 315 million euros) in port operations in the capital of Montevideo, as well as in local facilities in Paso de los Toros. The Finnish industrial company has worked closely with the state of Uruguay in preparing for the investment.
KONE has been awarded an order to modernise 14 lifts and 60 escalators in Madrid’s historic Atocha railway station. The Finnish company will also provide maintenance for 25 years as part of the deal. The largest train station in the Spanish capital, Atocha is currently undergoing a massive renovation to be completed in 2023, when it is expected to handle up to 87 million annual commuters.
Finnish industrial machinery company Metso has decided to establish a Metso Business Services (MBS) centre in the Lithuanian capital, Vilnius. The Vilnius MBS centre will support Metso’s profitable growth strategy by offering services first for Metso’s finance operations and later also for logistics. The centre will initially employ dozens of experts, but the number is expected to grow in the coming years.
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