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PaperlinX completes Maryvale mill upgrade

by Daniel Fitzgerald

Dec 17, 2008

Find more like: PaperlinX | pulp | Maryvale | mill | upgrade

PaperlinX has completed its troubled upgrade of its Maryvale pulp mill, with the company expecting the upgrade to generate $30 million of incremental earnings in the 2009 fiscal year.

The first pulp has already been produced at the site, with the mill also expected to generate annualised incremental earnings of $40-50m, though the project hasn’t been all smooth sailing.

“It has been a challenging project undertaken during a volatile period,” said PaperlinX managing director Tom Park. “Costs and timing have significantly over-run from our original estimates, but the long term return expectations and strategic rationale have remained sound throughout.”

The plant is currently in an “optimisation phase” which the company says will “enable full capacity to be reached in the near future.”

On completion of this phase, the mill is expected to yield an improvement in product quality and a 90,000mt per annum increase in the production of bleached eucalypt pulp.

PaperlinX has struggled recently with shortfalls in capital-raising to cover its debts, with both its retail offer and institutional offer failing to meet projections.

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