Stora Enso has divested its plantation interest in Indonesia

STORA ENSO OYJ Stock Exchange Release 7 October 2004 at 11.15

Stora Enso has divested its plantation interest in Indonesia 

Stora Enso has divested its majority shareholding in PT 
Finnantara Intiga, which owns the Finnantara plantation in West 
Kalimantan, Indonesia, to Global Forest Ltd., which is part of 
the Sinar Mas Group. The area in Finnantara planted for 
commercial use is approximately 35 000 hectares and the 
concession area 299 700 hectares. The book value of the 
plantation is USD 26 (EUR 21) million and the transaction will 
have a minor positive effect on Stora Enso’s results for the 
third quarter of 2004.

The decision to divest the interest in the Finnantara plantation 
is in line with the Group’s strategy of releasing capital in 
order to develop its core businesses. The strategic importance 
of the Finnantara plantation to Stora Enso has decreased since 
the decisions were taken to build the Veracel pulp mill in 
Brazil and to start establishing plantations in Guangxi in 
southern China. The Group will continue to ensure long-term 
access to the most competitive fibre from socially and 
environmentally sustainable sources.

The buyer is committed to maintaining and developing the 
sustainability of the plantation. One of the key motivations of 
the buyer is to secure wood procurement from socially and 
environmentally sound sources.

Following the divestment of Finnantara, Stora Enso owns 
plantations in Brazil, Portugal, China and Thailand. The book 
value of the plantations in Portugal, China and Thailand is EUR 
78.4 million. The plantations in Brazil are owned by Veracel, 
which is an associated company for Stora Enso.



For further information, please contact:
Björn Hägglund, Deputy Chief Executive Officer, 
tel. +46 70 528 2785
Markku Pentikäinen, Executive Vice President, Asia Pacific 
Division, tel. +86 137 6430 0175
Kari Vainio, Executive Vice President, Corporate 
Communications, tel. +44 7799 348 197
Keith B Russell, Senior Vice President, Investor Relations, 
tel. +44 20 7016 3146
Ulla Paajanen-Sainio, Vice President, Investor Relations and 
Financial Communications, tel. +358 40 763 8767


STORA ENSO OYJ



Jyrki Kurkinen    Ulla Paajanen-Sainio



Subscribe