Stora Enso Completes Sale of Barcelona Mill and Komarom Plant
Oct. 2, 2015 - Stora Enso announced that it has completed the sale of its Barcelona mill to the private equity fund Quantum for a total cash consideration of EUR 10 million. The mill produces recycled fibre-based consumer board.
The divestment is in line with Stora Enso’s strategy to focus its consumer board offering on high quality virgin-fibre products.
Based on the annual figures for 2014, the divestment reduces Stora Enso’s annual sales by EUR 117 million and simultaneously decreases Stora Enso’s annual board production capacity by approximately 195,000 tonnes from the beginning of the fourth quarter 2015 onwards.
The Barcelona mill employs approximately 220 people and was part of Stora Enso's Consumer Board division.
In addition, Stora Enso has completed the divestment of its packaging plant in Komarom, Hungary to Van Genechten Packaging International S.A. for a total cash consideration of EUR 13 million. The plant produces offset printed micro-flute packaging.
Based on the annual figures for 2014, the divestment reduces Stora Enso’s annual sales by EUR 14 million and simultaneously decreases the annual corrugated packaging converting capacity by approximately 15 million m2 from the beginning of the fourth quarter 2015 onwards.
The Komarom plant employs approximately 90 people and was part of Stora Enso's Packaging Solutions division.
Stora Enso produces chemical pulp, paper and board, corrugated packaging, and sawn wood products, including value-added products. To learn more, please visit: www.storaenso.com
SOURCE: Stora Enso