Stora Enso divests its Sachsen Mill in Germany

"We believe Model will be a good owner to ensure long-term development of the Sachsen Mill. We will continue to serve our customers with high quality paper products from Sachsen Mill at least until the end of 2022," said "We believe Model will be a good owner to ensure long-term development of the Sachsen Mill. We will continue to serve our customers with high quality paper products from Sachsen Mill at least until the end of 2022," said Kati ter Horst , EVP, Stora Enso's Paper...

"We believe Model will be a good owner to ensure long-term development of the Sachsen Mill. We will continue to serve our customers with high quality paper products from Sachsen Mill at least until the end of 2022," said

Kati ter Horst

, EVP, Stora Enso's Paper division.

 

"Sachsen Mill is a perfect fit into our value chain within our existing network of operations, and we are looking forward to developing the site further," said Daniel Model, Chairman and CEO.

The enterprise value of the transaction is EUR 35 million, subject to customary purchase price adjustments. The impact on Stora Enso's operational EBIT or net debt is not considered material. Stora Enso will book a one-time cost of approximately EUR 32 million in its IFRS operating profit in the second quarter of 2021, considered as an item affecting comparability (IAC). The transaction is expected to be closed during the third quarter of 2021.

About Model Group

Model Holding AG is a 100% family-owned company founded in 1882. Headquartered in Weinfelden, Switzerland, Model Group develops, produces and delivers innovative packaging solutions using cardboard and corrugated board. The company has 9 corrugating production plants in Europe, and it produces containerboard paper at two sites, Weinfelden and Niedergösgen, in Switzerland. The company revenue in 2020 was CHF 859 million and the number of employees 4 225. More info at www.modelgroup.com

For further information, please contact:

Liisa Nyyssönen

SVP, Communications, Paper division, Stora Enso

tel. +358 40 544 3491

Investor enquiries:

Ulla PaajanenSVP, Investor Relationstel. +358 40 763 8767 

Part of the bioeconomy, Stora Enso is a leading global provider of renewable solutions in packaging, biomaterials, wooden constructions and paper. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has some 23 000 employees, and sales in over 50 countries. Our sales in 2020 were EUR 8.6 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY). storaenso.com

CONTACT:

For further information, please contact:

Liisa Nyyssönen

SVP, Communications, Paper division, Stora Enso

tel. +358 40 544 3491

Investor enquiries:

Ulla PaajanenSVP, Investor Relationstel. +358 40 763 8767

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https://news.cision.com/stora-enso-oyj/r/stora-enso-divests-its-sachsen-mill-in-germany,c3354662

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For further information, please contact:

Liisa Nyyssönen

SVP, Communications, Paper division, Stora Enso

tel. +358 40 544 3491

Investor enquiries:

Ulla PaajanenSVP, Investor Relationstel. +358 40 763 8767 

Part of the bioeconomy, Stora Enso is a leading global provider of renewable solutions in packaging, biomaterials, wooden constructions and paper. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has some 23 000 employees, and sales in over 50 countries. Our sales in 2020 were EUR 8.6 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY). storaenso.com

CONTACT:

For further information, please contact:

Liisa Nyyssönen

SVP, Communications, Paper division, Stora Enso

tel. +358 40 544 3491

Investor enquiries:

Ulla PaajanenSVP, Investor Relationstel. +358 40 763 8767

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/stora-enso-oyj/r/stora-enso-divests-its-sachsen-mill-in-germany,c3354662

The following files are available for download:

 

SVP, Communications, Paper division, Stora Enso

tel. +358 40 544 3491

Ulla PaajanenSVP, Investor Relationstel. +358 40 763 8767 

Part of the bioeconomy, Stora Enso is a leading global provider of renewable solutions in packaging, biomaterials, wooden constructions and paper. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has some 23 000 employees, and sales in over 50 countries. Our sales in 2020 were EUR 8.6 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY). storaenso.com

CONTACT:

For further information, please contact:

Liisa Nyyssönen

SVP, Communications, Paper division, Stora Enso

tel. +358 40 544 3491

Investor enquiries:

Ulla PaajanenSVP, Investor Relationstel. +358 40 763 8767

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/stora-enso-oyj/r/stora-enso-divests-its-sachsen-mill-in-germany,c3354662

The following files are available for download:

 

SVP, Communications, Paper division, Stora Enso

tel. +358 40 544 3491

Ulla PaajanenSVP, Investor Relationstel. +358 40 763 8767

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/stora-enso-oyj/r/stora-enso-divests-its-sachsen-mill-in-germany,c3354662

The following files are available for download: