Stora Enso has signed an agreement to divest its Swedish paper production site in Hylte. Sweden Timber will operate the site once the transaction is finalised, which is expected to be in the first half of 2023.
The enterprise value amounts to around 18 million euros. With regard to the Anjala paper site in Finland, Stora Enso has decided to discontinue the divestment process. With the transaction of the Hylte site and the cancellation of the divestment of Anjala, Stora Enso completes the plan announced in March 2022 to divest four of its five paper production sites. In line with the strategy, the focus Stora Enso to the long-term growth of its renewable products in the areas of packaging, construction solutions and biomaterials.
„I am delighted that Sweden Timber will continue to supply Hylte's paper customers with the intention of further developing the business. For the Anjala site, we have come to the conclusion that the benefits of keeping the site within the Group outweigh the value of the divestment opportunities.“
Seppo Parvi, CFO of Stora Enso
The transaction is not expected to have any impact on the companies based at the Hylte site. Activities of the Packaging Solutions division in the areas of moulded fibres and biocomposites.
The Anjala paper site, together with the remaining Langerbrugge paper site in Belgium, will initially be integrated into the Packaging Materials division. The The Anjala site is already working together with the neighbouring Stora Enso site in Ingerois, in order to utilise synergies in the supply of raw materials and energy. The ongoing feasibility study for the Langerbrugge site is being finalised. for a possible conversion of one of the site's two paper lines into a packaging material line expected to be completed in the first half of 2023.
The The remaining sites in Anjala and Langerbrugge will continue to produce paper and serve their respective customers. The previously announced agreement on the Sale of the Maxau paper site in Germany to Schwartz Produktion is expected to be finalised at the beginning of this year. The sale of the Nymölla paper site in Sweden was completed on 2 January with the transfer of ownership to Sylvamo.
Source: Stora Enso