Stora Enso has signed an agreement to divest its Nymölla paper production site in Sweden, and all related assets to Sylvamo, a US-based global producer of uncoated paper. The enterprise value is Euro 150 million. Closing is expected in the beginning of 2023, subject to regulatory approvals.
This transaction is part of the earlier announced plan to divest four of Stora Enso’s five paper production sites. 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.
Sylvamo’s plan is to integrate the Nymölla site into their global paper business, and the 520 employees in the mill organisation at Nymölla will be part of the transaction. TreeToTextile, the sustainable textile fiber company, is not part of the transaction and will continue operations at the site.
The Nymölla site’s capacity is 485,000 metric tonnes of woodfree uncoated office papers, with Multicopy as the leading paper brand. Based on the 2021 figures, the divestment is expected to reduce Stora Enso’s annual sales by approximately Euro 290 million. Stora Enso will, at closing, book a one-time disposal loss of approximately Euro 20 million in its IFRS operating profit, as an item affecting comparability, subject to closing date adjustments.
Sylvamo is a global paper company with mills in Europe, Latin America and North America.
Stora Enso is a leading provider of renewable products in packaging, biomaterials, wooden construction and paper, and one of the largest private forest owners in the world.
