Stora Enso puts four paper mills up for sale
Paper manufacturing giant Stora Enso has initiated a sales process for a possible divestment of four of its five paper production sites, which produce 1.7 million tonnes of printing and communication papers between them.
The divestment is in line with its new strategy, where paper is not a strategic growth area for the Group, which is to strategy to pursue sustainable growth in sectors including packaging and building solutions and biomaterials innovations.
In 2021, the Paper division’s net sales amounted to E1.7bn, coming from 2,200 staff, with each of the five sites supported by divisional sales, management, and administrative functions.
Last year Stora Enso closed two of its mills, taking a million tonnes of paper a year out of circulation.
The four mills up for sale are:
Anjala (Finland)
435,000 tonnes a year of Book Paper, Improved Newsprint
Hylte (Sweden)
240,000 tonnes a year of Standard Newsprint
Maxau (Germany)
530,000 tonnes a year of Super Calendered Magazine Papers
Nymolla (Sweden)
475,000 tonnes a year of Uncoated Woodfree
Annica Bresky, president and CEO of Stora Enso said, “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.”
The four Stora Enso sites will continue to be run by Stora Enso until sold. The company will take offers for individual mills, or all four. It has not committed to a deadline for the conclusion of the divestment process. Stora Enso’s Langerbrugge site in Belgium, which makes magazine papers from recycled cardboard cups, will be retained within the group.
Tim Woods, editor of Pulp & Paper Edge said, "Locally, it is very difficult to see how any further disruptions or closures can lead to anything other than increased prices for paper."