HELSINKI, March 29,
2022 /PRNewswire/ -- Stora Enso has initiated a
sales process for a possible divestment of four paper production
sites. In line with Stora Enso's strategy, paper is not a strategic
growth area for the Group. The divestment intent is aligned with
the Group's strategy to focus on long-term growth potential for its
renewable products in packaging, building solutions and
biomaterials innovations.
Stora Enso's paper production sites intended for divestment are:
Anjala in Finland, Hylte and
Nymölla in Sweden, and Maxau in
Germany. The assets are
high-quality sites for paper and pulp production with strong
infrastructure, and skilled and experienced staff.
"Through divesting a majority of our paper assets, we are able
to increase the focus on our defined strategic growth areas of
renewable packaging, building solutions and biomaterials
innovations. When assessing potential divestment options, we look
for new ownership that will provide a sustainable long-term future
for the sites and the people that work there," says President and
CEO Annica Bresky.
The four Stora Enso sites are subject to divestment in one or a
series of transactions. Stora Enso has not committed to a deadline
for the conclusion of the divestment process. The initiated sales
process has no immediate effect on Stora Enso's paper operations
which continue to serve their respective customers. Stora Enso's
Langerbrugge site in Belgium will
be retained within the Group.
Stora Enso currently has five paper production sites that are
supported by divisional sales, management, and administrative
functions. In total, the Paper division currently employs
approximately 2,200 employees. In 2021, the Paper division's net
sales amounted to EUR 1,703
million.
Stora Enso has retained BofA Securities to assist in the sales
process.
For further information, please contact:
Carl Norell
Press officer
tel. +46 72 241 0349
Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 210 7691
Part of the global bioeconomy, Stora Enso is a leading provider
of renewable products in packaging, biomaterials, wooden
construction and paper, and one of the largest private forest
owners in the world. We believe that everything that is made from
fossil-based materials today can be made from a tree tomorrow.
Stora Enso has approximately 22,000 employees and our sales in 2021
were EUR 10.2 billion. Stora Enso
shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq
Stockholm AB (STE A, STE R). In addition, the shares are traded in
the USA as ADRs (SEOAY).
storaenso.com/investors
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