Stora Enso will establish a new Forest division and start reporting it separately at the beginning of 2020, as the company says in the press release received by Lesprom Network.
The new Forest division will include Stora Enso’s Swedish forest assets (including the recently-acquired Bergvik Skog Väst AB) and its 41% share of Tornator with the majority of its forest assets located in Finland. The Forest division will also include wood supply operations in Finland, Sweden, Russia and Baltic countries.
Stora Enso’s CEO, Karl-Henrik Sundström, says: “As a major player in the bioeconomy, access to wood is critical for us. Taking forest assets under direct ownership gives us more flexibility to optimise our wood supply and operations. Furthermore, as wood is the single most important raw material and the biggest share of our costs, as well as a large part of the balance sheet, it will make sense to increase the transparency of reporting now, when we have successfully finalised the acquisition of Swedish forest holdings.”
Today, Stora Enso has forest assets valued at more than Euro 4.1 billion (land and biological assets) in its balance sheet, the highest value being of biological assets of Euro 3.6 billion among Nordic companies.
