Paper Solutions
Stora Enso has signed an agreement to divest its Maxau paper production site in Germany, and all related assets to Schwarz Produktion, part of Schwarz Group, one of the top retailers in the world. The enterprise value is approximately €210 million. Closing is expected in the beginning of 2023, at the latest, subject to regulatory approvals.
This transaction is part of the earlier announced plan to divest four of Stora Enso’s five paper production sites. In line with its strategy, the company’s focus is on long term growth potential for its renewable products in packaging, building solutions and biomaterials innovations. ‘We are very pleased with this agreement, as it fulfils our goal of providing a sustainable long term future for the Maxau site and its employees. We will continue with the divestment process for the remaining three paper assets – Nymölla, Hylte and Anjala,’ said Seppo Parvi, CFO and head of paper division. Schwarz’s plan is to continue paper production at the site, and the 440 employees belonging to the mill organisation at Maxau will be part of the transaction. Stora Enso will continue to operate the Maxau site and serve its supercalendered paper (SC) customers until the closing of the transaction. The transaction will reduce Stora Enso’s annual SC paper capacity by 530,000 tonnes.
The divestment process continues for the remaining paper sites in Nymölla, Hylte and Anjala with no committed timeline for conclusion. There is a feasibility study ongoing at the Langerbrugge site for the potential conversion of one of the two paper lines into a containerboard line. Stora Enso will continue to serve its Langerbrugge paper customers at least until the end of 2024.
Stora Enso currently has five paper production sites.
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