Stora Enso responds to speculation about the future of its sawmilling business
STORA ENSO OYJ Stock Exchange Release 28 July at 15.30
Stora Enso responds to speculation about the future of its
sawmilling business
An article was published today in the Swedish commercial daily
newspaper Dagens Industri about the future of Stora Enso Timber.
It included too far-reaching assumptions by the newspaper that
Stora Enso would sell its Wood Products (sawmilling) division.
A review of Stora Ensos strategy was initiated in spring 2005.
As a result, the Group launched two programmes, Profit 2007 and
Asset Performance Review (APR). In October 2005 Stora Enso
issued a release that stated: Further analysis of the alignment
of the Groups strategy with its product and production asset
portfolio is underway. The Group is reviewing the role of the
Wood Products division in its organisation. No decisions have
been taken, nor is there any timetable concerning this
issue.
For further information, please contact:
Kari Vainio, EVP, Corporate Communications, tel. +44 7799
348 197
Ulla Paajanen-Sainio, VP, Investor Relations and Financial
Communications, tel. +358 40 763 8767
Previous press releases concerning Stora Ensos profit
improvement programme available at www.storaenso.com/press:
- 26 July 2006: Stora Ensos Profit 2007 programme ahead of
schedule
- 21 July 2006: Stora Enso sells its Pankakoski Mill to a group
of private investors
- 8 June 2006: Stora Enso sells its Celbi Pulp Mill to Altri
- 31 March 2006: Stora Enso finalises the divestment of Grycksbo
Mill
- 22 March 2006: Stora Enso Timber restarts Veitsiluoto Sawmill
at lower production volume
- 2 March 2006: Stora Enso to sell its Grycksbo and Linghed
mills
- 21 December 2005: Stora Ensos profitability improvement
programmes ahead of schedule
- 27 October 2005: Stora Enso creates platform for stronger
financial performance
- 23 August 2005: Stora Enso is exploring the possibility of
selling its Grycksbo Mill
- 20 June 2005: Stora Enso Timber completes negotiations with
its personnel at Veitsiluoto Sawmill
- 3 May 2005: Stora Enso Timber to start negotiations with its
personnel at Veitsiluoto Sawmill
www.storaenso.com
www.storaenso.com/investors
STORA ENSO OYJ
Jyrki Kurkinen Ulla Paajanen-Sainio