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30 March 2022
Stora Enso Sees No Future In Paper
HELSINKI, FINLAND—
Stora Enso has announced its intention of selling off of four of its five paper mills. Store Enso said paper is no longer a strategic growth area for the company and that the divestment intent is aligned with its strategy to focus on long-term growth for its renewable products in packaging, building solutions, and biomaterials innovations. The Stora Enso mills earmarked for divestment are: Anjala in Finland, Hylte and Nymölla in Sweden, and Maxau in Germany.
The company described the facilities as “high-quality sites for paper and pulp production with strong infrastructure, and skilled and experienced staff”. Stora Enso's Paper division currently employs around 2,200 staff and the Division's financial results for 2021 showed that Paper’s net sales were €1.7 billion ( $1.9 billion), down 14% on 2020. Stora Enso sold it's North American subsidiary to NewPage of Ohio back in 2007.
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