Stora Enso to divest the Baienfurt sheeting centre

STORA ENSO OYJ INVESTOR NEWS 22 November 2017 at 15.00 EET

Stora Enso has signed an agreement to divest its sheeting centre business in Baienfurt, Germany to Pyroll, a Finnish converting firm. The sheeting centre operations started in April 2009 and is 100% owned by Stora Enso.

This divestment supports Stora Enso’s growth strategy for its consumer board business, where the focus is to generate value to customers by being the global benchmark in high quality virgin fibre carton board. Running sheeting centre operations is not part of Stora Enso’s core business. The new owner has sheeting operations as its core and is in a better position to further develop Baienfurt. Stora Enso will remain a key customer to the Baienfurt sheeting centre.

The transaction is expected to be completed during the first quarter of 2018 and it is not expected to have any significant effect on the net debt or financials of Stora Enso. The sheeting centre employs approximately 60 people excluding outsourced personnel and had sales of EUR 15 million in 2016.

About the buyer
Pyroll is one of the leading paper, cardboard, paperboard, and plastic converters in the Nordic countries. Today Pyroll employs nearly 600 people, and turnover is about 100 million euros. Operations are divided into three business branches: Pyroll Packages, Pyroll Paper Merchant, and Pyroll Converting.

For further information, please contact:
Ulrika Lilja, EVP, Communications, tel. +46 72 221 9228

Investor enquiries:
Ulla Paajanen-Sainio, SVP, Investor Relations, tel. +358 40 763 8767

Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wooden constructions and paper on global markets. Our aim is to replace fossil-based materials by innovating and developing new products and services based on wood and other renewable materials. We employ some 25 000 people in more than 35 countries, and our sales in 2016 were EUR 9.8 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY). storaenso.com 

STORA ENSO OYJ 

For further information, please contact:
Ulrika Lilja
EVP, Communications
tel. +46 72 221 9228

Investor enquiries:
Ulla Paajanen-Sainio
SVP, Investor Relations
tel. +358 40 763 8767