Paper Solutions
Stora Enso has signed an agreement to divest its Nymölla paper production site in Sweden, and all related assets to Sylvamo, a US based global producer of uncoated paper. The enterprise value is €150 million. Closing is expected in the beginning of 2023, 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.
‘Following our recent agreement to divest the Maxau site, I am pleased that we found a good, experienced owner in Sylvamo for our Nymölla site. The process to divest the remaining paper assets continues,’ said Seppo Parvi, CFO and head of paper division at Stora Enso. Sylvamo’s plan is to integrate the Nymölla site into its global paper business, and the 520 employees in the mill organisation at Nymölla will be part of the transaction. TreeToTextile, the sustainable textile fibre company, is not part of the transaction and will continue operations at the site. The Nymölla site’s capacity is 485,000 metric tonnes of woodfree uncoated office papers, including the leading Multicopy.
The divestment process continues for Hylte and Anjala paper sites with no committed timeline for conclusion.
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