Stora Enso to sell four of its five paper sites
Stora Enso has initiated a sales process for a possible divestment of four of its five paper mills. In line with the Finnish company’s strategy, it said paper is no longer a strategic growth area for the group and that the divestment intent is aligned with its strategy to focus on long-term growth potential for its renewable products in packaging, building solutions, and biomaterials innovations.
06 Apr 2022 | 1320 Views | By PrintWeek Team
The Stora Enso mills earmarked for divestment are: Anjala in Finland, Hylte and Nymölla in Sweden, and Maxau in Germany. The company described the facilities as “high-quality sites for paper and pulp production with strong infrastructure, and skilled and experienced staff”.
Stora Enso president and CEO Annica Bresky said: “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.”
Stora Enso said the four sites are subject to divestment in one or a series of transactions. The group has not committed to a deadline for the conclusion of the divestment process and said the initiated sales process “has no immediate effect on Stora Enso’s paper operations which continue to serve their respective customers”.
Stora Enso said it will retain its Langerbrugge mill in Belgium within the group. An analyst told Reuters that this site produces magazine paper from used cardboard cups.
(Courtesy: PrintWeek.com)