The deal announced on 15 September 2022 was successfully completed. Nymölla Mill, Stora Enso’s largest enterprise for the production of woodfree uncoated office papers, went to the U.S. Sylvamo corporation, thus strengthening its positions in Europe by 485 thousand tpy of paper and 340 thousand tpy of chemical pulp. The enterprise value of the transaction is about 150 million euros
“This transaction is part of the earlier announced plan to divest four of Stora Enso’s five paper production sites,” comments Carl Norell, the company’s Press Officer. “In line with its strategy, Stora Enso’s focus is on long-term growth potential for its renewable products in packaging, building solutions and biomaterials innovations.”
In 2021, Stora Enso Nymölla generated sales of 290 million euros. With this in mind, in Q1 2023, the company is ready to book a one-time disposal loss of about 25 million euros in its operating profits.
The divestment process continues for the remaining paper sites in Hylte and Anjala with no committed timeline for conclusion. The process has no immediate effect on Stora Enso’s paper operations which continue to serve their respective customers.