Stora Enso has announced a major strategic step. The company will part with four publication and fine paper mills making 1.7 million t of paper.
Stora Enso has initiated a sales process for a possible divestment of four paper mills, which means it will part with a big part of its paper operations. The production sites intended for divestment are: Anjala in Finland, Hylte and Nymölla in Sweden, and Maxau in Germany. The initiated sales process has no immediate effect on Stora Enso’s paper operations which reportedly continue to serve their respective customers. The company’s Langerbrugge site in Belgium will be retained within the group.
The four paper mills are subject to divestment in one or a series of transactions, the groups says. It has not committed to a deadline for the conclusion of the divestment process. When assessing potential divestment options, the company says it wants to look for new ownership that will provide a sustainable long-term future for the sites and the people that work there.
Focus on packaging solutions
"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," commented Stora Enso's President and CEO Annica Bresky. The company said clearly that paper was not a strategic growth area for the group.
Stora Enso currently has five paper mills that are supported by divisional sales, management, and administrative functions. In total, the Paper division currently employs approximately 2,200 employees. In 2021, the division’s net sales amounted to €1.7bn....