March 29, 2022 - 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," said President and CEO Annica Bresky. "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."
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.
Anjala Mill in southern Finland produces printing paper from mechanical pulp — both coated and uncoated book paper, magazine paper and improved newsprint grades. Annual capacity: 435,000 tonnes of paper.
Hylte Mill in southwest Sweden is one of the largest newsprint mills in the world, and produces high-quality newsprint, biocomposites and Formed Fibre products. Annual capacity: 240,000 tonnes of Newsprint based on TMP (thermo-mechanical pulp), 15,000 tonnes of Circular Solutons and 50 Million units of Formed Fiber products.
Nymölla Mill in southern Sweden produces pulp and wood free uncoated paper, including the product Multicopy. Annual capacity: 475,000 tonnes of paper and 340,000 tonnes of pulp.
Maxau Mill in southwest Germany produces supercalendered paper primarily from recovered paper. Annual capacity: 530,000 tonnes of paper and 270,000 tonnes of pulp.
Stora Enso is a leading global provider of renewable solutions in packaging, biomaterials, wooden constructions and paper. The company has some 23,000 employees and sales in 2020 were EUR 8.6 billion. To learn more, visit: www.storaenso.com.
SOURCE: Stora Enso
Paper Industry Newsletter
Stay on top of paper industry news
from around the world with
PaperAge's free weekly newsletter.
Delivered every Thursday.
Sign up today!