SEOAY - Stora Enso has Completed the Divestment of its Stake in the Dawang Paper Mill
HELSINKI, Oct. 22, 2019 /PRNewswire/ -- Stora Enso has completed the divestment announced on 25 July 2019 of its 60% equity stake in the Dawang Mill in China to its joint venture partner, Shandong Huatai Paper.
The transaction will not have any material impact on Stora Enso's operational EBIT. Following the transaction, Stora Enso's net debt will decrease by approximately EUR 22 million and annual sales by approximately EUR 60 million.
After this transaction, Stora Enso has no paper production in China.
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 26 000 employees in over 30 countries. Our sales in 2018 were EUR 10.5 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, Division Paper
tel. +358 40 544 3491
Investor enquiries:
Ulla Paajanen
SVP, Investor Relations
tel. +358 40 763 8767
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