05:12 PM EST, 12/05/2024 (MT Newswires) -- Kruger Products a company in which KP Tissue Inc. ( KPTSF ) holds an equity interest, on Thursday said that after successfully starting-up its new tissue plant in Sherbrooke, Quebec, it is "evaluating advancing the construction of its next tissue plant in response to increased market competition in the fast-growing ultra-premium segment".

A statement noted this proposed new plant would contain a state of the art Through-Air-Dry paper machine along with three converting lines. The result of the evaluation is expected to be announced in early 2025, the statement added

"This decision is being made in support of the company's continued focus on growing its business, protecting market share, and continuing to offer high quality tissue products to customers across North America," Thursday's statement said.

KPT shares closed down $0.08 or 0.95%, to $8.30 on the Toronto Stock Exchange.