Stora Enso Completed Sale of Swedish Nymolla Paper Site

SEATTLE (Scrap Monster): Stora Enso announced that it has completed divestment of its Nymolla paper production site in Sweden and all related assets to Sylvamo, a leading U.S. producer of uncoated paper.

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The agreement between the parties was signed on 15^th September, 2022. According to company press release, the divestment was closed on 2^nd January, 2023, as planned. It must be noted that the company had scheduled the closure of the transaction, after necessary regulatory approvals, during the initial quarter of 2023. The enterprise value of the transaction was approximately EUR 150 million.

The transaction was part of divestiture plans with regards to four out of the five paper production sites. Stora Enso noted that the divestment process for the remaining paper mill sites in Hylte and Anjala is in progress, although it did not provide any specific timelime for conclusion of the same. Meantime, the process is unlikely to have any immediate impact on the company’s paper operations.

The Nymolla site will be integrated into Sylvamo’s global paper business. Currently, the site provides around 520 full-time jobs and has a production capacity of approximately 485,000 metric tons of woodfree uncoated office papers.