Stora Enso Declared Divestment of Multiple Paper Production Sites

SEATTLE (Scrap Monster): Pulp and paper industry company Stora Enso declared that it has initiated the process for divestment of four paper production sites. The move is in line with its strategy to focus on strategic growth areas, especially in renewable products and biomaterials innovations. Incidentally, Stora Enso does not consider paper as a strategic growth area for the company.

According to company press release, the paper production sites selected for divestment are Anjala in Finland, Hylte and Nymölla in Sweden, and Maxau in Germany. Meantime, the Langerbrugge site in Belgium will be retained within the Group. These high-quality sites for paper and pulp production possess strong infrastructure as well as skilled and experienced staff.

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Commenting on the decision, Annica Bresky, President and CEO, Stora Enso noted that the divestment of majority of its paper assets will enable the company to increase its focus on defined strategic growth areas of renewable packaging, building solutions and biomaterials innovations. The company looks forward to new ownership that will provide a sustainable long-term future for the sites and the people that work there, Bresky said.

The company has not committed to a deadline for the conclusion of the divestment process.