The cardboard machine conversion with Valmet's equipment in Turkey
Valmet delivers an extensive cardboard machine replacement and automation services to Modern Karton's Tekirdag factory in Turkey. Modern Karton is part of Eren Holding and it is Turkey´s largest and one of Europe´s largest manufacturers of corrugated cardboard.
Renewing the cardboard machine will convert the recycled outer packaging cardboard producing machine to produce recycled high-quality coated outer packaging cardboard and increase its capacity.
Finnvera has granted a buyer credit guarantee for the delivery. The amount of the credit is 44,4 million euros and the cover presentage of the guarantee is 95%.
Information about the guarantee agreement
- Signing date of the Finnvera Guarantee Agreement: March 15, 2022
- Name of the Guarantee Holder: Bayerische Landesbank
- Name of the Exporter: Valmet Technologies Oy
- Name of the Lender: Bayerische Landesbank
- Name of the Buyer and Borrower: Modern Karton Sanayi Ve Ticaret A.S.
- Name of the Guarantor: Türkiye Cumhuriyeti Ziraat Bankasi A.S.
- Project/Export transaction/Goods: equipment for carboard factory modernization
- Credit amount EUR: 44,4 million
- Credit period: 2+10 years
- Percentage of cover: 95%
- ES-risk classification: B
- International standards applied in benchmarking: IFC Performance Standards and EHS Guidelines
- Contact point: [email protected]
- Environmental and social impact information: Recycled paper as raw material. Environmental impacts are considered fairly low and local.
- Date of publish: 22.12.2022
