HELSINKI, April 4,
2023 /PRNewswire/ -- Stora Enso has completed
the divestment of its paper production site in Hylte, Sweden announced on 27
January 2023, and all related assets to Sweden Timber, a
Sweden-based sawmill and planing
mill company. The enterprise value of the transaction is
approximately EUR 18 million and will
result in the reduction of Stora Enso's annual newsprint paper
capacity by 245,000 tonnes. Using 2022 figures as a benchmark, the
divestment is expected to reduce Stora Enso's annual sales by
approximately EUR 160
million.
As announced earlier, Stora Enso will book a disposal loss of
approximately EUR 35 million, in
addition to an impairment loss of EUR 19
million recorded in Q4/2022 in its IFRS operating profit in
Q2/2023, as an item affecting comparability. The final value will
be subject to closing date adjustments.
The transaction, part of the earlier announced plan to divest four
of Stora Enso's five paper production sites, does not affect Stora
Enso's formed fiber and biocomposite operations located at the
Hylte site.
The paper operations divestment plan was concluded on 27 January 2023 when Stora Enso announced the
agreement to divest the Hylte site and to discontinue the
divestment process of the Anjala paper production site in
Finland. The divestment of the
Nymölla paper site in Sweden was
completed on 2 January with ownership transferred to Sylvamo while
the divestment of the Maxau paper site in Germany to Schwarz Produktion was completed on
1 March. Stora Enso's Paper division was discontinued as of
1 January 2023, with the retained
Langerbrugge (Belgium) and Anjala
paper production sites being integrated into Packaging Materials
division reporting.
In line with its strategy, Stora Enso's focus moving forward is on
long-term growth potential for its renewable products in packaging,
building solutions and biomaterials innovations.
About Sweden Timber
Sweden Timber is a Swedish-owned and growing wood industry company.
The company produces and sells high-quality wood products to the
construction industry and wood retailers, with customers in several
export markets. The business today consists of sawmills and planing
production sites in four Swedish locations, Malmbäck, Hjortkvarn,
Skillingaryd and Mora. More information on Sweden Timber here:
swedentimber.se
Recent releases about Stora Enso's paper assets:
27 January 2023:
Stora Enso signs an agreement to divest its Hylte paper site and
will discontinue the Anjala site divestment process
29 March 2022: Stora Enso plans to
divest four paper sites to focus on strategic growth areas
Part of the global bioeconomy, Stora Enso is a leading provider
of renewable products in packaging, biomaterials and wooden
construction, and one of the largest private forest owners in the
world. We believe that everything that is made from fossil-based
materials today can be made from a tree tomorrow. Stora Enso has
approximately 21,000 employees and our sales in 2022 were
EUR 11.7 billion. Stora Enso shares
are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq
Stockholm AB (STE A, STE R). In addition, the shares are traded in
the USA as ADRs (SEOAY).
storaenso.com/investors
For further information, please contact:
Carl Norell
Press officer
tel. +46 72 241 0349
Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
Tel. +46 70 210 7691
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