The company is taking the next step in its restructuring towards packaging, bioproducts and building solutions.
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 €18m 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 €160m. 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.