English

Stora Enso divests real estate at Baienfurt in Germany

Report this content 
STORA ENSO OYJ STOCK EXCHANGE RELEASE 24 August 2010 at 15.20 GMT               

Stora Enso Baienfurt GmbH has signed an agreement to divest its Baienfurt mill  
site real estate in Germany. Buyer is the IGV Industrie- und Gewerbeverwaltungs 
GmbH, a subsidiary of the Lower Bavarian Karl- Gruppe, which specialises in     
acquiring and restructuring industrial sites. The transaction includes the land 
and buildings of the former Baienfurt cartonboard mill except the sheeting      
centre and the board machine. Following the divestment, Stora Enso will release 
approximately EUR 45 million of environmental and dismantling provision in the  
third quarter of 2010 as a positive non-recurring item. The transaction is      
expected to be completed by the end of the third quarter of 2010.               

According to Karl-Gruppe's current plans, the mill site will be developed as a  
business/industrial park utilising existing buildings as well as erection of new
commercial properties. The site will no longer be used for cartonboard          
production.                                                                     

Cartonboard production at Baienfurt Mill ended in December 2008. Baienfurt Mill,
which was part of Stora Enso's Consumer Board segment, had an annual capacity of
190 000 tonnes of folding boxboard.                                             

For further information, please contact:                                        

Bernd Rettig, EVP, Country Manager Germany, tel. +49 211 581 2310               
Päivi Kauhanen, Communications Director, tel. +358 50 598 9560                  
Ulla Paajanen-Sainio, Head of Investor Relations, tel. +358 2046 21242          

www.storaenso.com                                                               
www.storaenso.com/investors                                                     


Stora Enso is a global paper, packaging and wood products company producing     
newsprint and book paper, magazine paper, fine paper, consumer board, industrial
packaging and wood products. The Group is the world leader in forest industry   
sustainability. We offer our customers solutions based on renewable raw         
materials. Our products provide a climate-friendly alternative to many          
non-renewable materials, and have a smaller carbon footprint. Stora Enso is     
listed in the Dow Jones Sustainability Index and the FTSE4Good Index. Stora Enso
employs some 27 000 people worldwide, and our sales in 2009 amounted to EUR 8.9 
billion. Stora Enso shares are listed on NASDAQ OMX Helsinki (STEAV, STERV) and 
Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs 
(SEOAY) in the International OTCQX over-the-counter market.                     


STORA ENSO OYJ                                                                  


Jari Suvanto			Ulla Paajanen-Sainio

Subscribe