Stora Enso?s Intercell deal completed
STORA ENSO OYJ Stock Exchange Release 15 December 2004 at 18.00
Stora Ensos Intercell deal completed Stora Enso has closed its previously announced acquisition of 66% ownership of the Polish packaging producer Intercell S.A. from private shareholders and the International Finance Corporation. The transaction was concluded following approval by regulatory authorities. The acquisition is part of Stora Ensos strategy of expanding its Packaging Boards operations, and will strengthen its presence in the fast-growing Polish market. Mr. Jerzy Janowicz will remain Managing Director of Intercell. Mr. Pentti Huhta, Senior Vice President, Stora Enso Industrial Papers, will co-ordinate integration of Intercell into Stora Enso. Intercell is one of Polands biggest corrugated packaging companies, with integrated operations from waste paper collection to corrugated packaging production. The Company has three corrugated packaging plants in Poland, as well as one sack factory in Poland and one in Serbia. Intercells paper and board mill at Ostroleka, Poland has an annual production capacity of about 250 000 tonnes of containerboard and sack and kraft paper. Its annual corrugated packaging capacity is about 250 million m2. In 2003 Intercells sales were EUR 150 million, 60% of which was from packaging and 40% from containerboards and paper, and its EBITDA in 2003 was EUR 27 million. The Company employs about 1 900 people. Intercell also operates Polands largest recycled paper collection business, which has an approximately 15% share of the market in Poland. For further information, please contact: Pekka Laaksonen, Senior Executive Vice President, Stora Enso Packaging Boards, tel. +358 2046 21218 Pentti Huhta, Senior Vice President, Stora Enso Industrial Papers, tel. +358 2046 25203 Kari Vainio, Executive Vice President, Corporate Communications, tel. +44 7799 348 197 Keith B Russell, Senior Vice President, Investor Relations, tel. +44 20 7016 3146 www.storaenso.com www.storaenso.com/investors www.intercell.pl Previous press release concerning Stora Ensos Intercell deal available at www.storaenso.com/press - 29 October 2004: Stora Enso to acquire majority interest in Intercell of Poland STORA ENSO OYJ p.p. Jukka Marttila Anu Vesmanen