Bli medlem
Bli medlem

Du är här


Stora Enso Oyj: Stora Enso to divest its Kabel Mill in Germany

Stora Enso has signed an agreement to divest its Kabel coated
mechanical paper mill in Germany to Hagen-Kabel Pulp & Paper GmbH,
owned by a German based investor group. The transaction is in line
with Stora Enso's strategic transformation into a renewable materials
growth company. The transaction is expected to be completed in the
third quarter of 2016.

The cash consideration for the divestment of the assets is
approximately EUR 23 million, subject to customary closing day
adjustments. The loss on disposal amounts in total to EUR 15 million.
The effect on operating profit is approximately EUR 5 million, and
negative tax impact is approximately EUR 10 million. These will be
recorded as a non-recurring item in Stora Enso's second quarter 2016
results. Approximately EUR 17 million of pension liabilities will be
transferred to the new owner with the transaction.

"Kabel Mill has an excellent reputation and an established customer
base in the grades it produces. We believe that Kabel Mill will be
able to further develop its business under the new ownership," says
Kati ter Horst, EVP Paper division at Stora Enso.

Based on 2015 annual figures, the divestment is expected to reduce
Stora Enso's annual sales by approximately EUR 300 million. It will
also reduce Stora Enso's annual paper production capacity by around
485 000 tonnes. Kabel Mill employs approximately 540 people, who will
be transferred to the new owner with the divestment. The transaction
will not have a material impact on Stora Enso's operational EBIT
going forward.

Stora Enso will continue to produce coated mechanical paper under the
NovaPress brand at its Veitsiluoto Mill in Finland.

About Hagen-Kabel Pulp & Paper GmbH

Hagen-Kabel Pulp & Paper GmbH is a newly-established company owned by
a German investor group with experience in the paper industry. One of
the investors, Kübler & Niethammer Papierfabrik Kriebstein AG
("K&N"), produces graphical paper with a capacity of approximately
100 000 tonnes per year and recycled paper as raw material. The
investor group has stated that it aims to develop the Kabel Mill and
focus further on high quality customer service.

For further information, please contact:
Ulrika Lilja, EVP Global Communications, tel. +46 72 221 9228
Liisa Nyyssönen, SVP Communications Paper Division, tel. +358 40 544

Investor enquiries:
Ulla Paajanen-Sainio, SVP, Investor Relations, tel. +358 40 763 8767

Stora Enso is a leading provider of renewable solutions in packaging,
biomaterials, wooden constructions and paper on global markets. Our
aim is to replace fossil based materials by innovating and developing
new products and services based on wood and other renewable
materials. We employ some 26 000 people in more than 35 countries,
and our sales in 2015 were EUR 10.0 billion. Stora Enso shares are
listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq Stockholm (STE A,
STE R). In addition, the shares are traded in the USA as ADRs (SEOAY)
on the International OTCQX over-the-counter market.

For further information, please contact:
Ulrika Lilja
EVP Global Communications
tel. +46 72 221 9228
Liisa Nyyssönen
SVP Communications Paper Division
tel. +358 40 544 3491

Investor enquiries:
Ulla Paajanen-Sainio
SVP, Investor Relations
tel. +358 40 763 8767


Författare WKR

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.