Business News

Pahor Hails New Investment at Paper Mill Radece Papir

Radece, 01 October (STA) - Prime Minister Borut Pahor participated on Friday in the launch of a new EUR 17.8m PS5 paper machine at paper mill Radece papir, describing the company as one of the many overlooked signals of slow by certain economic recovery in Slovenia.

The manager and owner of Radece papir Peter Tevz said the investment will more than triple the mill's capacities. Energy consumption will be reduced by a third and water consumption by two thirds, he said of the environment friendly machine.

Speaking of a noticeable recovery of the Slovenian economy this year, Pahor expressed his conviction that more and more Slovenian companies are opening new production lines, investing into new technologies and opening subsidiaries abroad.

"With much caution and trust we need to bring the story of Slovenia's renewed success to the end. The economic growth climate has revealed its perils during the crisis. We need to take on more serious, structural changes, so that a possible new crisis would not find us unprepared," Pahor said.

Tevz meanwhile explained that the new investment is meant to fulfil the goal of putting Radece papir on par with the world's leading suppliers of paper for securities, paper with security features and banknote paper with the highest level of protection.

He explained that the key contracts were singed last year "when the time was still favourable for investors". "The prices were at very low levels, which enabled us to make significant savings in comparison to the offers available in the past."

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