Aug 24, 2010. /Lesprom Network/. Stora Enso Baienfurt GmbH has signed an agreement to divest its Baienfurt mill site real estate in Germany. Buyer is the IGV Industrie- und Gewerbeverwaltungs GmbH, a subsidiary of the Lower Bavarian Karl- Gruppe, which specialises in acquiring and restructuring industrial sites. The transaction includes the land and buildings of the former Baienfurt cartonboard mill except the sheeting centre and the board machine. Following the divestment, Stora Enso will release approximately Euro 45 million of environmental and dismantling provision in the 3Q 2010 as a positive non-recurring item. The transaction is expected to be completed by the end of the 3Q 2010, company said in a statement received by Lesprom Network. According to Karl-Gruppe's current plans, the mill site will be developed as a business/industrial park utilising existing buildings as well as erection of new commercial properties. The site will no longer be used for cartonboard production. Cartonboard production at Baienfurt Mill ended in December 2008. Baienfurt Mill, which was part of Stora Enso's Consumer Board segment, had an annual capacity of 190 000 tonnes of folding boxboard. Stora Enso is a global paper, packaging and wood products company producing newsprint and book paper, magazine paper, fine paper, consumer board, industrial packaging and wood products.