Stora Enso is exploring the possibility of selling its Grycksbo Mill
STORA ENSO OYJ Stock Exchange Release 23 August 2005 at 13.00
Stora Enso is exploring the possibility of selling its Grycksbo
Mill
Stora Enso has commenced investigations into the feasibility of
divesting its fine paper mill at Grycksbo in Sweden, as the
Group focuses its coated fine paper business on multi-coated
graphical grades. Stora Enso is seeking a buyer with a product
portfolio for which the mills matt-coated fine papers would be
a better fit, and which would be interested in developing the
mills business in the long term.
Grycksbo Mill has three paper machines producing on-machine
coated fine papers with a total annual capacity of 280 000
tonnes. Its customers are mainly in Western and Northern Europe.
The mill has a strong market position in its paper segment.
Grycksbo Mills production and commercial operations will
continue as usual while a new owner is sought for the mill.
The planned divestment of Grycksbo Mill is part of the Groups
European profit improvement programme, Profit 2007, which
includes the rationalisation of its fine paper business. The
target of the programme is an improvement in annual profit
before tax of EUR 300 million from mid 2007 onwards. It is
planned to announce details of the programme with the third
quarter 2005 results.
For further information, please contact:
Yngve Stade, Senior Executive Vice President, Corporate Support,
tel. +46 8 613 66 60
Aulis Ansaharju, Senior Vice President, Graphic Papers, tel.
+358 2046 21282
Lennart Westman, Mill Director, Grycksbo Mill, tel. +46 23 68010
Keith B Russell, Senior Vice President, Investor Relations, tel.
+44 7775 788 659
Ulla Paajanen-Sainio, Vice President, Investor Relations and
Financial Communications,
tel. +358 2046 21242
STORA ENSO OYJ
p.p. Jukka Marttila Jussi Siitonen