Spanish invest £290 million in UK
04 February 2010
Spanish paper and packaging group SAICA will invest £290 million to build a recycled paper mill in the UK, creating up to 200 jobs.
Business Secretary Lord Mandelson welcomed the announcement by the firm.
It will begin construction of the paper mill in the coming months, in Trafford, near Manchester.
Lord Mandelson said: "Both the scale and the nature of this investment make it a great win for both the North West and the UK, the number one destination for inward investment in Europe.
“This shows great confidence in our economic future and has all the right ingredients. It is a long-term commitment in environmental technology which will be central to the UK's growth strategy. I congratulate the company and wish them every success."
UK Trade & Investment (UKTI), the government’s international business development agency, worked closely with the Northwest Regional Development Agency and Trafford Council to help SAICA with all stages of the investment process.
This investment brings SAICA’s committed and planned investment in the UK to over £470 million since 2007, when the company acquired International Paper’s Packaging business in the UK and Ireland.
UK Trade & Investment Chief Executive Sir Andrew Cahn called it great news for both the UK and the North West.
He said: “The UK has the most open and business orientated economy in Europe and is a springboard from which companies can move into markets across the continent and beyond. I wish the company every success with their investment.”