NEWS

(05/08/2014 / sha)

+++ IMPORTANT +++
Stora Enso: Divesting Uetersen mill, Germany

Stora Enso has signed an agreement to divest its Uetersen specialty and coated fine paper mill in Germany to Brigl & Bergmeister, an Austrian specialty paper producer. The cash consideration for the divestment of the shares is EUR 10 million.

 
 

The transaction is expected to be completed in mid-July 2014. Based on 2013 annual figures, the divestment is expected to reduce Stora Enso’s annual sales by EUR 155 million. It will also reduce Stora Enso’s working capital by EUR 10 million and annual paper production capacity by around 240 000 t.

Uetersen Mill employs approximately 400 people. Stora Enso will continue to produce specialty papers at Imatra Mill and coated fine paper at Oulu Mill in Finland.