Around €1.6m has been invested in the site already this year in order to increase the effectiveness of production at the plant and to improve paper quality.

A new product range for thermal, carbonless and inkjet paper is also in development. According to Mitsubishi HiTec Paper, this includes improved papers for industrial inkjet printing, better printing features for thermal paper and a new lightweight point-of-sale thermal paper.

The announcement follows the loss of 121 positions at the plant in April this year.

Gerhard Schoon, managing director of Mitsubishi HiTec Paper Bielefeld, said: "The closure of some of the production equipment and staff reduction are painful for all of us – particularly for the employees affected. However, the improvements obtained during the past months clearly show the necessity of the measures taken."