Stora Enso is no longer interested in graphic paper. The group, which has been active in new sectors for several years, is seeking to divest four paper production sites in order to "focus on the long-term growth potential of its renewable products in packaging innovations, building solutions and biomaterials."
"Paper is not a strategic growth area for the group" he explains in a statement.
The four plants involved in the sale process are Anjala in Finland, Hylte and Nymölla in Sweden and Maxau in Germany.
Only the Langerbrugge site in Belgium will be retained within the Finnish-Swedish group. The Belgian paper mill employs 363 people and has a production capacity of 555,000 tons of recycled newsprint and magazine paper.
The good news is that Stora Enso has not committed to a time frame for the completion of the divestiture process, which may give time for buyers to position themselves for the takeover of the sites. The sale process will not have "with immediate effect" on Stora Enso's paper operations, which continue to serve their respective customers, the group adds.
The paper division, which consists of its five current mills, employs approximately 2,200 people and has a production capacity of 2.250 million tons per year.
Last year, the group had already taken drastic measures to reduce its printing paper business with the closure of the Veitsiluoto plant in Sweden and Kvarnsveden in Finland and the sale of the German Sachsen plant . These three measures reduced annual paper production capacity by 42% and the Paper Division's share of group sales to just over 10%.
For the year 2021, the paper division, which counted its three sites down during the year, achieved 1.703 billion euros in sales, or 16% of the group's 10.164 billion.
