HELSINKI, Finland, April 8, 2016 (GLOBE NEWSWIRE) -- Stora Enso will record a capital gain of approximately EUR 16 million related to the transaction as a positive non-recurring item in Division Paper at closing of the transaction. The closing is subject to approval by competition authorities. The transaction will not have material impact on Stora Enso's operational EBIT going forward.
Stora Enso's need for paper for recycling in Sweden has decreased during the past years, and needed volumes can be sourced from the market. Stora Enso has negotiated an agreement for the supply of paper for recycling with Stena Metall. The group's focus is to secure the same volumes as currently purchased via IL Recycling to its Hylte Mill in Sweden.
Stora Enso uses paper for recycling in its production at four paper mills and two packaging mills in Europe.
IL Recycling AB is a Swedish recycled materials company owned by Stora Enso, Fiskeby Board, SCA, and Smurfit Kappa. Stena Metall is now purchasing the shareholding of all the current owners.
About the buyer
The Stena Metall Group recycles and processes metals, paper, electronics, hazardous waste and chemicals. Its operations also include international trading in steel, metals and oil. The Group offers quality-assured solutions to various industries and sectors of society.
For further information, please contact:
Ulrika Lilja, EVP, Communications, tel. +46 1046 71668
Ulla Paajanen-Sainio, SVP, Investor Relations, tel. +358 2046 21242
Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wooden constructions and paper on global markets. Our aim is to replace fossil based materials by innovating and developing new products and services based on wood and other renewable materials. We employ some 26 000 people in more than 35 countries, and our sales in 2015 were EUR 10.0 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) on the International OTCQX over-the-counter market. storaenso.com
STORA ENSO OYJ
Source: Stora Enso Oyj