Stora Enso to close its Suzhou paper mill and to divest the site in China
STORA ENSO OYJ STOCK EXCHANGE RELEASE 6 June 2016 at 9.00 EET Stora Enso has signed an agreement to divest the key assets of its Suzhou Mill in China, including the land-use rights and buildings, to the local government of Suzhou National New & Hi-tech Industrial Development Area (SND). During its 20 years of operation, the city of Suzhou has grown around the mill, making it difficult to develop and continue industrial operations at the current site. The cash consideration for the divestment of assets is approximately EUR 240 million. The total gain on disposal to be reported in