Stora Enso divests its Uetersen Mill
08 Maio 2014 - 7:04AM
Stora Enso has signed an agreement to divest its Uetersen specialty
and coated fine paper mill in Germany to Brigl & Bergmeister,
an Austrian specialty paper producer. The cash consideration for
the divestment of the shares is EUR 10 million. The loss on
disposal amounts to approximately EUR 30 million and will be
recorded as a non-recurring item in Stora Enso's second quarter
2014 results. The transaction is in line with Stora Enso's
strategic transformation to a value-creating renewable materials
company focusing on growth markets. The transaction is expected to
be completed in mid-July 2014.
The transaction will enhance Stora Enso's operational EBIT and
cash flow from the third quarter of 2014. Based on 2013 annual
figures, the divestment is expected to reduce Stora Enso's annual
sales by EUR 155 million. It will also reduce Stora Enso's working
capital by EUR 10 million and annual paper production capacity by
around 240 000 tonnes. Uetersen Mill employs approximately 400
people.
Stora Enso will continue to produce specialty papers at Imatra
Mill and coated fine paper at Oulu Mill in Finland.
About Brigl & Bergmeister
Brigl and Bergmeister is a producer of specialty paper for the
beverage and food industry. The company has paper mills in
Niklasdorf (Austria) and Vevce (Slovenia) and a combined capacity
of 198 000 tonnes of label and flexible packaging paper.
For further information, please contact:
Ulla Paajanen-Sainio, Head of Investor Relations, tel. +358 2046
21242 Ulrika Lilja, Senior Vice President Communications, Printing
and Living, tel. +46 72 221 9228
www.storaenso.com www.storaenso.com/investors
Stora Enso is the global rethinker of the paper, biomaterials,
wood products and packaging industry. We always rethink the old and
expand to the new to offer our customers innovative solutions based
on renewable materials. Stora Enso employs some 29 000 people
worldwide, and our sales in 2013 amounted to EUR 10.6 billion.
Stora Enso shares are listed on NASDAQ OMX Helsinki (STEAV, STERV)
and Stockholm (STE A, STE R). In addition, the shares are traded in
the USA as ADRs (SEOAY) in the International OTCQX over-the-counter
market. STORA ENSO OYJ
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