Stora Enso acquires majority stake in Inpac
Stora Enso has concluded the acquisition of a 51% stake in the Chinese packaging company Inpac International. Inpac specialises in consumer packaging and runs production sites in China and India, as well as service operations in South Korea. The Finnish company puts the enterprise value of Inpac International at €80m.
Stora Enso says it will also purchase the grounds and buildings of Inpac's production site at Qian'an in northern China for approximately €13m. Inpac business unit will be reported as part of Stora Enso's industrial packaging division from the third quarter 2011 onwards.