HELSINKI, FINLAND: Stora Enso has initiated a gross sales course of for a possible divestment of 4 paper manufacturing sites.
In line with Stora Enso’s strategy, paper is not a strategic growth space for the Group. The divestment intent is aligned with the Group’s technique to focus on long-term growth potential for its renewable merchandise in packaging, constructing options and biomaterials innovations.
Stora Enso’s paper manufacturing websites intended for divestment are: Anjala in Finland, Hylte and Nymölla in Sweden, and Maxau in Germany. The assets are high-quality websites for paper and pulp manufacturing with strong infrastructure, and expert and expert staff.
“Through divesting a majority of our paper assets, we’re able to extend the focus on our outlined strategic growth areas of renewable packaging, constructing options and biomaterials innovations. When assessing potential divestment options, we search for new possession that will present a sustainable long-term future for the websites and the people that work there,” says President and CEO Annica Bresky.
The 4 Stora Enso websites are topic to divestment in a single or a series of transactions. Stora Enso has not dedicated to a deadline for the conclusion of the divestment process. The initiated gross sales course of has no immediate impact on Stora Enso’s paper operations which proceed to serve their respective customers. Stora Enso’s Langerbrugge site in Belgium will be retained inside the Group.
Stora Enso currently has 5 paper manufacturing websites that are supported by divisional sales, management, and administrative functions. In total, the Paper division currently employs roughly 2,200 employees. In 2021, the Paper division’s net gross sales amounted to EUR 1,703 million.
Stora Enso has retained BofA Securities to help inside the gross sales process.
Part of the worldwide bioeconomy, Stora Enso is a number one supplier of renewable merchandise in packaging, biomaterials, wooden construction and paper, and one of many largest private forest owners inside the world. Stora Enso has roughly 22,000 employees and our gross 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 inside the USA as ADRs (SEOAY).
www.storaenso.com