Stora Enso divests Summa Mill premises in Finland for EUR 40 million
STORA ENSO OYJ STOCK EXCHANGE RELEASE 12 February 2009 at 07.00 GMT
Stora Enso has signed an agreement to sell the buildings and most of the Summa Mill site in Finland to Google Group of Companies for approximately EUR 40 million. The sale is expected to close by the end of the first quarter 2009. The transaction will improve operating profit by approximately EUR 38 million, of which approximately EUR 15 million is a reversal of earlier impairment, and will be recorded as a non-recurring item in the first quarter 2009 results. Stora Enso and Google have agreed that part of the mill site will be further transferred to the City of Hamina for other industrial uses. Paper production at Summa Mill ended in January 2008 and will not be resumed. Google will announce its plans or future investment in due course. For further information, please contact: Markus Rauramo, CFO, tel. +358 2046 21121 Keith B. Russell, SVP, Investor Relations, tel. +44 20 7121 0910 Ulla Paajanen-Sainio, VP, Investor Relations and Financial Communications, tel. +358 40 763 8767 www.storaenso.com www.storaenso.com/investors Stora Enso is a global paper, packaging and forest products company producing newsprint and book paper, magazine paper, fine paper, consumer board, industrial packaging and wood products. The Group has 32 000 employees and 85 production facilities in more than 35 countries worldwide, and is a publicly traded company listed in Helsinki and Stockholm. Our annual production capacity is 12.7 million tonnes of paper and board, 1.5 billion square metres of corrugated packaging and 6.9 million cubic metres of sawn wood products, including 3.2 million cubic metres of value-added products. Our sales in 2008 were EUR 11.0 billion. STORA ENSO OYJ p.p. Jukka Marttila Pia Aaltonen-Forsell