Stora Enso has completed the divestment of its Nymölla paper production site in Sweden, and all related assets to Sylvamo, a US-based global producer of uncoated paper. The divestment announced on 15 September 2022 was closed today after regulatory approvals. The enterprise value of the transaction is approximately EUR 150 million.
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 EUR 290 million. Subject to closing date adjustments, Stora Enso will book a one-time disposal loss of approximately EUR 25 million (including currency translation adjustments) in its IFRS operating profit in the first quarter of 2023, as an item affecting comparability.
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.
The divestment process continues for the remaining paper sites in Hylte and Anjala with no committed timeline for conclusion. The process has no immediate effect on Stora Enso’s paper operations which continue to serve their respective customers.