Displaying items by tag: Stora Enso

stora new1Stora Enso has decided to commence a feasibility study with the aim of expanding containerboard production at Ostrołęka Mill in Poland by 500 000 tonnes annually. The findings of a recently completed pre-feasibility study supported continuation of the process. The feasibility study, which is expected to be completed by the end of 2016, will evaluate the profitability of the possible expansion. The studied investment will be cost competitive and it has synergies with the newest containerboard machine in Ostrołęka, which went into production in 2013.

If the investment is approved following the feasibility study, the capital expenditure for the expansion is estimated to be in the range of EUR 350-400 million over a couple of years.

Stora Enso’s long term investment criteria is to keep the capital expenditure into fixed assets approximately at the same level as depreciation. The planned investment at Ostrołęka Mill would fit this frame. In addition to fixed asset investments, Stora Enso invests approximately EUR 100 million annually in biological assets.

“Poland is a large and growing market where we have a strong presence and customer base. Stora Enso regularly conducts feasibility studies to explore potential expansion opportunities. The decision regarding a possible expansion at Ostrołęka Mill will be made once the assessment is completed,” says Gilles van Nieuwenhuyzen, EVP Division Packaging Solutions.

For further information, please contact:
Carl Norell, SVP Communications, Division Packaging Solutions, tel. +46 722 410 349

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

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Stora Enso has completed the earlier announced divestment of its ownership in the Arapoti Mill in Brazil. The divestment supports Stora Enso's transformation into a renewable materials growth company.

stora new1The divestment of Stora Enso’s entire 80% shareholding in the Arapoti magazine paper mill to Papeles Bio Bio, a Chilean paper producer, has been completed. The divestment plan was announced on 31 December 2015.

The consideration for the divestment of the shares is approximately EUR 17 million. The loss on disposal amounts to approximately EUR 59 million of which EUR 31 million was recorded as a non-recurring item in Stora Enso’s fourth quarter 2015 results. The remaining approximately EUR 28 million is a cumulative translation adjustment loss, which will be recorded as a negative non-recurring item on operating profit in Stora Enso’s first quarter 2016 results, as announced earlier.

The transaction reduces Stora Enso’s net debt by approximately EUR 12 million. Based on 2015 annual figures, the transaction decreases Stora Enso’s sales by approximately EUR 100 million.

Arapoti Mill is the only producer of coated magazine paper (LWC) in South America. The majority of its production is sold to the domestic market and the rest to other Latin American countries. The mill has an annual production capacity of 185 000 tonnes of LWC, and it employs 320 people.

Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wood and paper on global markets. Our aim is to replace non-renewable 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

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Stora Enso is investing a total of approximately EUR 63 million to further improve competitiveness in strategic growth areas in China and Sweden in the Consumer Board and Biomaterials divisions.

stora new1Stora Enso will invest EUR 31 million in a new polyethylene (PE) coating line in the new consumer board mill in Beihai, China. The Beihai Mill is expected to be in operation during the second quarter of 2016, as communicated earlier. The investment will enhance Stora Enso’s strategy for profitable growth and supports competitiveness by enabling short lead-times and full quality control for PE-coated prime Food Service Board (FSB). The investment is expected to be completed in mid-2017.

Stora Enso is also investing EUR 16 million in a new chemical plant at the consumer board mill in Skoghall, Sweden to further improve the environmental performance of the mill. The investment is expected to be completed by the end of 2017.

In the Biomaterials division, Stora Enso is investing EUR 16 million to improve the environmental performance by reducing sulphur emissions of its mill in Skutskär, Sweden. The investment is expected to be completed by the end of 2017.

The investments will further enhance Stora Enso’s transformation into a global renewable materials growth company. EUR 31 million of these investments are part of the group’s 2016 capital expenditure forecast, which amounts to EUR 680–720 million as communicated earlier.

For further information, please contact:
Ulrika Lilja, EVP, Communications, tel. +46 1046 71668

Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wood and paper on global markets. Our aim is to replace non-renewable 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

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Friday, 19 February 2016 09:07

Getting ready at Beihai Mill

beihai

Stora Enso has two paper mills in China, as well as core factories, production and distributing units through the packaging company Inpac. The Beihai consumer board mill project is the first time the company has started building a mill on an empty field in China.

Stora Enso’s large-scale mill construction project of a consumer board mill in Beihai, Guangxi region, China, is getting closer to completion. The board machine is expected to be operational in the second quarter, and the project is proceeding according to plan. ​

The idea of establishing a complete production chain in Guangxi, from raw material to end product, came in 2006. Already, Stora Enso had been establishing sustainable eucalyptus plantations in Guangxi since 2002. Then in 2012, we announced the plan to build a world-class integrated consumer board mill in China, to provide excellent service with cost-competitive, locally produced high quality liquid packaging boards on a regional basis for global key customers.

Today, the Beihai Mill is well underway.
 
More than a machine
A project like this is not only about building a mill, although that in itself is a massive operation with thousands of employees and contractors on-site.  It is also about recruiting the most capable work force in China, ensuring training and knowledge-sharing between Beihai Mill and Stora Enso’s Nordic mills, mapping the markets in-depth, planning sales, strengthening customer relations, and preparing for the best logistics routes and partners for deliveries. Naturally, it is important that all the sales and support functions are set when the consumer board machine goes operational.

Jari Latvanen, Executive Vice President, Division Consumer Board stresses the significance of the project: “The Beihai operations will add considerable value to our business in Asia. We see great opportunities for growth and building on our relationships with key customers in high quality end-uses.”

An important part in the project has also been to make Stora Enso better known in the surrounding communities and to cooperate with local authorities, universities, organisations and villagers to find long-term sustainable solutions for development.

During 2015, the progress in the mill construction was tremendous. It is even more impressive considering the high level of work safety that Stora Enso has been able to instill. In October 2015, the project could celebrate 10 million working hours without Lost Time Accidents, contractors included.
 
When ready, this state-of-the-art mill will have the capacity of 450 000 tonnes consumer board per year.

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Wednesday, 17 February 2016 08:41

Stora Enso’s Annual Report 2015 published

stora new1Stora Enso’s Annual Report 2015 is published today as PDF documents. Stora Enso’s Annual Report is comprised of four separate publications: the Progress Book 2015, the Sustainability Report 2015, the Financial Report 2015, and the Corporate Governance Report 2015.

The Progress Book explains Stora Enso’s strategy, how we create value, and how our transformation is progressing. The publication is available in English, Finnish and Swedish. The Sustainability Report covers Stora Enso’s sustainability performance, following the Global Reporting Initiative G4 framework. The report is available in English.

The Financial Report consists of Stora Enso in capital markets, a summary of our sustainability performance, and the audited Report of the Board of Directors and financial statements. The Corporate Governance Report covers Stora Enso’s corporate governance policy, practices, and actions in 2015. The Financial Report and the Corporate Governance Report are available in English.

Printed publications will be published during the week commencing Monday 7 March 2016. The Progress Book 2015 will be distributed to shareholders registered with Euroclear Finland and Euroclear Sweden who have requested a copy. Printed copies of the Progress Book 2015 and the Financial Report 2015 can be ordered at storaenso.com/order or by sending an e-mail to This email address is being protected from spambots. You need JavaScript enabled to view it.. The Sustainability Report 2015 and the Corporate Governance Report 2015 are available as a PDF.

Stora Enso has today also published the following separate PDF documents:

- The official Financial Statements in Finnish
- English translation of the Parent Company Financial Statements for 2015
- Finnish translation of the Corporate Governance Report 2015

All of these publications and documents can be downloaded at the group’s website at storaenso.com/annualreport

For further information, please contact:
Ulrika Lilja, EVP, Communications, tel. +46 72 221 9228
Hanne Karrinaho, Head of Financial Communication, tel. +358 2046 21446

Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wood and paper on global markets. Our aim is to replace non-renewable 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

Attachments:
Sustainability_Report_2015.pdf
Progress_Book_2015_ENG.pdf
Financial_Report_2015.pdf
Stora_Enso_Oyj_Parent_Company_financial_statements_2015.pdf
Corporate_Governance_Report_2015.pdf

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Swedish Minister for Enterprise and Innovation, Mikael Damberg, joins Stora Enso CEO, Karl-Henrik Sundström, at the official Innovation Centre inauguration.

2016 02 16 210211

The Innovation Centre for biomaterials will host research, application, business development and strategic marketing under one roof. By creating renewable solutions and products from second-generation biomass, such as wood, in order to replace fossil-based products, the centre is addressing societal problems such as climate change, increased urbanisation as well as water and land use issues.

“The Innovation Centre in Stockholm is another important step on the road to Stora Enso’s transformation into a renewable materials company. It will help us build on our long, worldwide tradition in forestry, which – when coupled with access to sustainable raw materials and our expertise in fibres – gives us an excellent starting point for creating solutions that will benefit our customers and end-users in various industries and markets,” says Karl-Henrik Sundström, CEO at Stora Enso.

2016 02 16 210228

 “Specifically, the centre will help to boost innovation by identifying business opportunities in the markets for renewable materials and bio-based chemicals. We will link our own expertise with leading research centres, universities and business partners,” says Arno van de Ven, SVP, Head of Innovation in Stora Enso’s Biomaterials division.

Currently, there are 40 people working in the centre and it is estimated that by the end of 2017 it will employ around 100 people, recruited both from inside of the company as well as externally. The Innovation Centre covers 4 900 m2, with a state-of-the art laboratory area of 1 600 m2, and is located in the greater Stockholm area in Nacka, Sweden.

About Biomaterials division
Stora Enso’s Biomaterials division is a provider of pulp grades to meet the demands of various paper, board and tissue producers. The offering also includes fluff for hygiene applications and dissolving pulp for the textile industry. The mission of the Biomaterials division is to find new, innovative ways to maximise the value extractable from wood, as well as other kind of ligno-cellulosic biomasses. Through innovation, the aim is to develop into a cost and performance differentiated renewable biochemical company offering drop-in and new materials to industries we already cooperate with and industries new to Stora Enso.

For further information, please contact:
Ulrika Lilja, EVP, Head of Communications, tel. +46 72 221 92 28
Kirsi Seppäläinen, Head of Communications, Division Biomaterials, tel. +358 400 786659

www.storaenso.com

Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wood and paper on global markets. Our aim is to replace non-renewable materials by innovating and developing new products and services based on wood and other renewable materials. We employ some 27 000 people in more than 35 countries, and our sales in 2014 were EUR 10.2 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and 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.

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Stora Enso plans to divest its ownership in the Arapoti Mill in Brazil to Papeles Bio Bio. The divestment supports Stora Enso's transformation into a renewable materials growth company.

stora new1Stora Enso has signed an agreement to divest its entire 80% shareholding in the Arapoti magazine paper mill in Paraná, Brazil, to Papeles Bio Bio, a Chilean paper producer. The consideration for the divestment of the shares is approximately EUR 21 million, subject to customary closing day adjustments. The loss on disposal amounts to approximately EUR 27 million and will be recorded as a non-recurring item in Stora Enso’s fourth quarter 2015 results. The transaction will reduce Stora Enso’s net debt by approximately EUR 18 million.

The transaction is subject to regulatory approvals and is expected to be completed during the first quarter of 2016. At completion, the cumulative translation adjustment loss will be transferred from an equity reserve to the income statement. Based on the foreign exchange rate on 30 November 2015, the cumulative translation adjustment loss is estimated to be EUR 30 million.

Arapoti’s plantation company, which owns 30 000 hectares of plantations, and in which Stora Enso has a 20% shareholding, is not part of the transaction.

Based on 2015 annual figures, the transaction decreases Stora Enso’s sales by approximately EUR 100 million.

“Arapoti Mill is in good technical shape and has a loyal customer base. I believe that it will benefit from being part of a Chilean company with a newsprint production unit close to the mill,“ says Kati ter Horst, EVP Paper division at Stora Enso.

Arapoti Mill is the only producer of coated magazine paper (LWC) in South America. The majority of its production is sold to the domestic market and the rest to other Latin American countries. The mill has an annual production capacity of 185 000 tonnes of LWC, and it employs 320 people. Arauco, a Chilean forest products company, owns 20% of Arapoti Mill.

About the buyer
Papeles Bio Bio S.A. is a Chilean producer of newsprint and mechanical speciality papers, with one mill located in Chile and one in Brazil. Papeles Bio Bio’s annual paper production is approximately 300 000 tonnes and the company serves the major newsprint publishers and commercial printers of South America. It is owned by a consortium of Chilean and international investors.

Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wood and paper on global markets. Our aim is to replace non-renewable materials by innovating and developing new products and services based on wood and other renewable materials. We employ some 27 000 people in more than 35 countries, and our sales in 2014 were EUR 10.2 billion. Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY) on the International OTCQX over-the-counter market.www.storaenso.com

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Pöyry and Stora Enso detail packaging trends at annual Investors Breakfast in London

Executives from Pöyry Management Consulting and Stora Enso detailed the drivers behind a buoyant packaging market that is due to see growth across all materials.

poyPöyry Management Consulting selected the Future of Packaging theme for its annual Investors Breakfast held at Stationers’ Hall in London. The packaging sector has enjoyed stable growth for the past two decades, has proven to be largely recession proof, enjoys an optimistic outlook for the years ahead and generates attractive returns on private equity investment.

Jarkko Sairanen, President at Pöyry Management Consulting, said, “Packaging is a $670 billion market and we are seeing positive growth across all packaging materials – this makes it a very exciting and dynamic industry at the moment. This truly global industry is performing well globally – and very well in the Asia Pacific region in particular due to the link between demand and population growth. The other drivers of this vast industry are interlinked and complex but include retail structures and competition, consumer behavior, materials and technology, cost, sustainability and regulation. It is a pleasure to bring together investors and industry figures at our event to discuss these issues in depth.”

Special industry guest Jari Latvanen, Executive Vice President, Head of Consumer Board at Stora Enso, delivered a presentation informed by his FMCG background and understanding of consumer purchasing behavior and trends. He identified the consumers as the key driver for both growth and change, and linked the brand owners and Stora Enso responses to the observed consumer behavior.

Latvanen said, “The future is now. At Stora Enso we believe that everything that’s made with fossil-based material today can be made from a tree tomorrow. There are some exciting innovations taking place in this area such as micro fibrillated cellulose (MFC). With MFC, you can make high-quality packaging that is lighter and more durable from less raw materials. You’ll get more for less, without compromising on quality.

“The demand for more paperboard packaging from consumers is also clear and this technology helps us to do more to match it. We work across the value chain to understand consumers who are increasingly conscious of what goes into their food and how that is packaged and delivered. Brands can no longer ignore this. We need a 360 degree view of the product.”

Sairanen was joined by fellow Pöyry consultants David Powlson and Outi Juntti who added additional perspectives on the forces shaping the future of packaging such as sustainability, and the need for packaging producers to continuously maintain the balance between cost, quality and functionality as well introduce cutting –edge technologies such as RFID.

Managing Director of Pöyry Capital, Cele Moncayo-Quiros analysed packaging as an asset class and covered the financial responses from the public and private equity markets to the growth of packaging. On the private equity side, he explained how some packaging companies were being broken up for IPOs and divestitures and that these investments were generating returns in the range of 30-70% for the private equity funds. Pitfalls of packaging investments and observed M&A packaging mega trends were also outlined.

About Pöyry
Pöyry is an international consulting and engineering company. We serve clients globally across the energy and industrial sectors and provide local services in our core markets. We deliver management consulting and engineering services, underpinned by strong project implementation capability and expertise. Our focus sectors are power generation, transmission & distribution, forest industry, chemicals & biorefining, mining & metals, transportation and water. Pöyry has an extensive local office network employing about 6,000 experts. Pöyry's net sales in 2014 were EUR 571 million and the company's shares are quoted on NASDAQ OMX Helsinki (Pöyry PLC: POY1V).

Website: www.poyry.com

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Wednesday, 04 November 2015 09:11

More packaging power at Imatra mills

Last year, Stora Enso announced an investment of EUR 27 million to increase the capacity of Consumer Board Machine 5 at Imatra mills in Finland. The investment is now ready.

2015 11 04 091245

In addition to a capacity increase of 20 000 tonnes, the investment also enables quality enhancements and cost-competitiveness in global markets.

"With the investment, we have anticipated the demands of our customers for their brands. The quality and capacity that we have now achieved will keep us on the cutting edge of the industry," says Marko Pekkola, Head of Operations Consumer Board.

"We're now able to produce more general packaging, like multipacks for yoghurt, as well as more liquid packaging board for the packaging of milk and juice, for example. The new production capacity goes to European and global markets," he continues.

The investment in the Tainionkoski unit was realised in two phases this year, one phase in June and the other in August/September during the mill's scheduled maintenance stoppage.

"Our customers are positive about this change, and we have worked in close cooperation with them. There were no breaks in our deliveries during the transition time," Pekkola says.

The investment required a fair amount of technical planning. The focus of the investment was on the coating part of the board machine and on modernising the winder and reel packaging section.  An experienced user group of mill employees were part of the practical planning. Some occupational health and safety factors were improved with the investment as well.
 
Imatra mills consist of two units, Kaukopää and Tainionkoski. The annual capacity of the mills is over one million tonnes of board and paper. The mills employ approximately 870 people, about 90 of them work at Tainionkoski.

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2015 11 04 090405CDP, the international non-profit organisation that promotes sustainability, has identified Stora Enso as a Nordic leader in disclosing climate change data to investors and other stakeholders. In CDP’s Nordic Climate Disclosure Leadership Index (CDLI), Stora Enso receives a score of 99/100. High scores within the index indicate that a company provides robust climate data with a high level of transparency.

“Since our core business is based on renewable raw materials, we are in a unique position when it comes to controlling our carbon emissions,” says Noel Morrin, EVP Global Responsibility at Stora Enso. “Combating global warming is a top priority and our commitment to transparent reporting helps us make the right decisions that can drive change.”

In order to be ranked in the index, CDP performs an independent assessment on the company’s climate work. The constituent organisations within CDLI are ranked within the top 10% in their respective region.

Paul Dickinson, executive chairman and co-founder of CDP says: “As the world looks beyond the Paris climate change negotiations and prepares for a low carbon future, reliable information about how companies are responding to the transition will be ever more valuable. For this reason we congratulate those businesses that have achieved a position on CDP’s Climate Disclosure Leadership Index.”

At the request of 822 investors who represent EUR 86 trillion in assets, thousands of companies submit annual climate disclosures to CDP. Top scores assure investors that companies are accountable and well prepared to respond to changes in market demands and emission regulations.

For further information, please contact:
Noel Morrin, EVP Global Responsibility, tel. +46 7307 68898
Ulrika Lilja, EVP Global Communications, tel. +46 1046 71668

About CDP
CDP, formerly Carbon Disclosure Project, is an international, not-for-profit organization providing the only global system for companies and cities to measure, disclose, manage and share vital environmental information. CDP works with market forces, including 822 institutional investors with assets of €86 trillion, to motivate companies to disclose their impacts on the environment and natural resources and take action to reduce them. More than 5 500 companies disclosed environmental information through CDP in 2015. CDP now holds the largest collection globally of primary climate change, water and forest risk commodities information and puts these insights at the heart of strategic business, investment and policy decisions. www.cdp.net https://www.cdp.net/CDPResults/CDP-Nordic-climate-change-report-2015.pdf

Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wood and paper on global markets. Our aim is to replace non-renewable materials by innovating and developing new products and services based on wood and other renewable materials. We employ some 27 000 people in more than 35 countries, and our sales in 2014 were EUR 10.2 billion. Stora Enso shares are listed on NASDAQ OMX Helsinki (STEAV, STERV) and 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.

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