Stora Enso Completes Sale of Kabel Paper Mill to Investor Group
Sept. 2, 2016 - Stora Enso said that it has completed the divestment announced on 1 June 2016 of its Kabel coated mechanical paper mill in Germany, to Kabel Premium Pulp & Paper GmbH, owned by a German based investor group.
The total cash consideration for the divestment is approximately EUR 25 million, subject to final closing adjustments.
Based on 2015 annual figures, the transaction decreases Stora Enso's annual sales by approximately EUR 300 million and simultaneously decreases Stora Enso's annual coated mechanical paper production capacity by around 485,000 tonnes.
The Kabel Mill employs approximately 540 people and was part of Stora Enso's Paper division.
Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wooden constructions and paper on global markets. To learn more, please visit: www.storaenso.com
SOURCE: Stora Enso