Stora Enso to sell 4 paper mills in Finland, Sweden, Germany

Finnish pulp and paper giant Stora Enso has taken an initiative to sell four paper mills in home and abroad, said the company in a press release on Tuesday.

As a move of its divestment process, Stora Enso will sell paper production mills Anjala in Finland, Hylte and Nymölla in Sweden, and Maxau in Germany.

The divestment intent is aligned with the Group’s strategy to focus on long-term growth potential for its renewable products in packaging, building solutions and biomaterials innovations, the company said.

The assets are high-quality sites for paper and pulp production with strong infrastructure, and skilled and experienced staff.

The four Stora Enso sites are subject to divestment in one or a series of transactions. Stora Enso has not committed to a deadline for the conclusion of the divestment process.

The initiated sales process has no immediate effect on Stora Enso’s paper operations which continue to serve their respective customers.

Stora Enso’s Langerbrugge site in Belgium will be retained within the Group.

Stora Enso currently has five paper production sites that are supported by divisional sales, management, and administrative functions.

In total, the Paper division currently employs about 2,200 people. In 2021, the Paper division’s net sales amounted to EUR 1,703 million.

Stora Enso has retained BofA Securities to assist in the sales process.

“Through divesting a majority of our paper assets, we are able to increase the focus on our defined strategic growth areas of renewable packaging, building solutions and biomaterials innovations. When assessing potential divestment options, we look for new ownership that will provide a sustainable long-term future for the sites and the people that work there,” said President and CEO of the company Annica Bresky.