STORA ENSO OYJ INVESTOR NEWS
4 April 2023
at
9:00 EEST
Stora Enso
has completed the divestment of its paper production site in Hylte,
Sweden
announced on
27 January 2023
, and all related assets to Sweden Timber, a
Sweden
-based sawmill and planing mill company. The enterprise value of the transaction is approximately
EUR 18 million
and will result in the reduction of
Stora Enso's
annual newsprint paper capacity by 245,000 tonnes. Using 2022 figures as a benchmark, the divestment is expected to reduce
Stora Enso's
annual sales by approximately
EUR 160 million
As announced earlier,
Stora Enso
will book a disposal loss of approximately
EUR 35 million
, in addition to an impairment loss of
EUR 19 million
recorded in Q4/2022 in its IFRS operating profit in Q2/2023, as an item affecting comparability. The final value will be subject to closing date adjustments.
The transaction, part of the earlier announced plan to divest four of
Stora Enso's
five paper production sites, does not affect
Stora Enso's
formed fiber and biocomposite operations located at the Hylte site.
The paper operations divestment plan was concluded on
27 January 2023
when
Stora Enso
announced the agreement to divest the Hylte site and to discontinue the divestment process of the Anjala paper production site in
Finland
. The divestment of the Nymölla paper site in
Sweden
was completed on 2 January with ownership transferred to
Sylvamo
while the divestment of the Maxau paper site in
Germany
to Schwarz Produktion was completed on 1 March.
Stora Enso's
Paper division was discontinued as of
1 January 2023
, with the retained Langerbrugge (
Belgium
) and Anjala paper production sites being integrated into Packaging Materials division reporting.
In line with its strategy,
Stora Enso's
focus moving forward is on long-term growth potential for its renewable products in packaging, building solutions and biomaterials innovations.
About Sweden Timber
Sweden Timber is a Swedish-owned and growing wood industry company. The company produces and sells high-quality wood products to the construction industry and wood retailers, with customers in several export markets. The business today consists of sawmills and planing production sites in four Swedish locations, Malmbäck, Hjortkvarn, Skillingaryd and Mora. More information on Sweden Timber here: swedentimber.se
Recent releases about
Stora Enso's
paper assets:
27 January 2023
:
Stora Enso
signs an agreement to divest its Hylte paper site and will discontinue the Anjala site divestment process
29 March 2022
:
Stora Enso
plans to divest four paper sites to focus on strategic growth areas
For further information, please contact:
Carl Norell
Press officer
tel. +46 72 241 0349
Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
Tel. +46 70 210 7691
Part of the global bioeconomy,
Stora Enso
is a leading provider of renewable products in packaging, biomaterials and wooden construction, and one of the largest private forest owners in the world. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow.
Stora Enso
has approximately 21,000 employees and our sales in 2022 were
EUR 11.7 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 in the
USA
as ADRs (SEOAY). storaenso.com/investors
STORA ENSO OYJ
For further information, please contact:
Carl Norell
Press officer
tel. +46 72 241 0349
Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
Tel. +46 70 210 7691
https://news.cision.com/stora-enso-oyj/r/stora-enso-completes-the-divestment-of-its-hylte-paper-site-to-sweden-timber,c3746537
