Since October 2012, Stora Enso has been actively searching for a solid new owner for Corbehem mill offering a sustainable and long-term solution for the site and its employees. Despite significant efforts involving M&A and legal advisors and a dedicated project team, this search proved unsuccessful. The total operational EBITDA of the unit since the beginning of the process was a negative EUR 34 million.

The mill has been at standstill since January 2014. The employee representatives’ information and consultation process at the mill has now been completed. The social plan negotiated and concluded with the trade unions was validated by the French labour authorities on 10 June 2014. Under this social plan, Stora Enso will offer support to Corbehem Mill employees to alleviate the consequences of the redundancies related to the closure of the mill.