Displaying items by tag: Stora Enso

Friday, 18 November 2022 11:03

Change in Stora Enso’s Group Leadership Team

Jari Suominen, Executive Vice President (EVP), of the Forest division and a member of the Group Leadership Team, has decided to leave Stora Enso. After more than 25 years with the Company, Jari will now pursue career opportunities outside of Stora Enso. Per Lyrvall, currently, EVP Legal has been appointed as the new EVP Forest division. Per will assume the role beginning of December and continue as a member of the Group Leadership Team (GLT).

Jari Suominen joined Stora Enso in 1995 and has led the Company’s Forest division since its inception in 2020. Previous to that, Jari was EVP and head of Stora Enso’s Wood Products division since 2014.

stora new 2017“I would like to thank Jari for all his contributions to Stora Enso throughout the years, it has been a true pleasure working together. Jari has driven transformation in the Wood Products division setting up our Building Solutions business, and now lately established the new Forest Division. On behalf of all colleagues, I would like to wish him success and good luck in his future endeavours,” says Stora Enso’s President and CEO Annica Bresky.

"After a long and rewarding career at Stora Enso, it’s now time for me to take the next step. I am very grateful for the opportunities that I have had in the company and of course all the fantastic colleagues that I have been fortunate enough to work with over the years,” says Jari Suominen.

Per Lyrvall joined the company in 1994 and has been a member of the GLT since 2012 and General Counsel since 2008. Per will continue his current responsibilities as Stora Enso country head in Sweden in addition to the new role as head of the Forest division.

"I am excited to take on the opportunity to lead the Forest division. Our forest assets and operations are at the very foundation of our growth platform. I look forward to continuing Jari Suominen’s work to advance our forestry operations with a focus on sustainability, biodiversity and wood supply services that support Stora Enso’s strategic ambitions,” says Per Lyrvall.

The search for a new General Counsel has been initiated. In the interim period Christian Swartling, currently, Senior Vice President of Group Legal will assume the acting role in the position.

Part of the global bioeconomy, 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. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has approximately 22,000 employees and our sales in 2021 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). storaenso.com/investors

Published in European News
Tagged under

Stora Enso has decided to invest approximately EUR 1 billion to convert the remaining idle paper machine at the Group’s Oulu site in Finland into a high-volume consumer board production line. The investment supports the Group’s growth strategy in renewable packaging by providing new volume for growing packaging segments. Production on the converted machine is estimated to start in early 2025.

Following the first machine conversion at the Oulu site in 2021 from paper to kraftliner, the remaining idle paper line will be converted into a state-of-the-art highly flexible consumer board line for folding box board (FBB) and coated unbleached kraft (CUK). The total annual capacity will be 750,000 tonnes of consumer board. The target end-use segments are food and beverage packaging, especially frozen and chilled, and dry and fast food, mainly in Europe and North America.

Oulu Stora EnsoOulu Stora Enso

“Renewable packaging continues to be our largest strategic growth area. It’s also a market that is now, for the first time, growing faster than plastics-based alternatives. Through this conversion we can build on existing assets for quick and cost-effective time-to-market compared to other investment alternatives. This puts us in a strong position to drive revenue growth and build market share,” says Stora Enso’s President and CEO Annica Bresky.

The total investment will be approximately EUR 1 billion during 2022–2025. At full capacity, the investment is expected to meet the profitability target of the Packaging Materials division: operational return on operating capital (ROOC) of 20%. Annual sales are expected to be approximately EUR 800 million.

“This investment represents a step change in the European market and will develop our Oulu unit into a mega site, improving profitability and competitiveness for both our consumer board and containerboard offerings. The converted line will be the most cost-competitive FBB machine in Europe, also enabling us to optimise production at other sites to unlock further growth,” says Hannu Kasurinen, EVP and Head of the Packaging Materials division.

The investment is fully aligned with Stora Enso’s sustainability commitments. It will support circularity by further enhancing the recycling performance of the Packaging Materials division’s product portfolio. The Oulu site’s total scope 1 and 2 greenhouse gas emissions will remain at a low level as they were already reduced by 80% during the first conversion in 2021.

2022 11 01 105324

The investment will create approximately 300 new jobs at the Oulu site and support functions, and an additional 1,500 indirect employment opportunities overall. The wood consumption of the new line will be approximately one million cubic metres of pulp wood. After the investment, the Group's market pulp position will be reduced by approximately 250,000 tonnes annually.

Part of the global bioeconomy, 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. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has approximately 22,000 employees and our sales in 2021 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). storaenso.com/investors

Published in European News
Tagged under

Stora Enso has signed an agreement to divest its Maxau paper production site in Germany, and all related assets to Schwarz Produktion, part of Schwarz Group, one of the top retailers in the world. The enterprise value is approximately EUR 210 million. Closing is expected in the beginning of 2023, at the latest, 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.

“We are very pleased with this agreement, as it fulfils our goal of providing a sustainable long-term future for the Maxau site and its employees. We will continue with the divestment process for the remaining three paper assets; Nymölla, Hylte and Anjala,” says Seppo Parvi, CFO and Head of Paper division at Stora Enso.

Schwarz Produktion is expected to assume ownership for the Maxau site in the beginning of 2023. Schwarz’s plan is to continue paper production at the site, and the 440 employees belonging to the mill organisation at Maxau will be part of the transaction. Stora Enso will continue to operate the Maxau site and serve its supercalendered paper (SC) customers until the closing of the transaction.

2022 09 13 095105Maxau paper site

The transaction will reduce Stora Enso’s annual SC paper capacity by 530,000 tonnes. Based on the 2021 figures, the divestment is expected to reduce Stora Enso’s annual sales by approximately EUR 250 million. Subject to closing date adjustments, Stora Enso will book a one-time disposal gain of approximately EUR 50 million, in its IFRS operating profit in the first quarter of 2023, considered as an item affecting comparability.

The divestment process continues for the remaining paper sites in Nymölla, 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. There is a feasibility study ongoing at the Langerbrugge site for the potential conversion of one of the two paper lines into a containerboard line. Stora Enso continues to serve its Langerbrugge paper customers at least until the end of 2024.

Stora Enso currently has five paper production sites. In total, the Paper division currently employs approximately 2,300 employees. In 2021, Paper division’s net sales amounted to EUR 1,703 million.

BofA Securities acted as Stora Enso’s financial advisor on this transaction.

About Schwarz Produktion

Schwarz Produktion is the umbrella brand for the production companies of Schwarz Group. In total, more than 4,500 employees in the Schwarz Produktion companies produce high-quality food as well as sustainable packaging and materials for the retail companies Lidl and Kaufland. In addition to mineral water and soft drinks, the Schwarz Produktion companies also produce chocolate, dried fruit, baked goods, coffee and ice cream. In addition, three plastic and recycling plants are a central component of a unique PET materials cycle. Further information about Schwarz Group here.

Part of the global bioeconomy, 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. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has approximately 22,000 employees and our sales in 2021 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). storaenso.com/investors 

Published in European News
Tagged under

A new survey commissioned by Stora Enso in March 2022 among 2,400 book readers and listeners in the UK, France, Germany and the US showed that people still overwhelmingly prefer physical books (65%) to e-books (21%) or audiobooks (14%). And consumers are willing to pay a premium for carbon neutral books.

 “With the book market strong coming out of the pandemic, our goal with this survey was to gain insights into whether the market would stay that way in a post-pandemic world. And the answer we got was a resounding yes,” says Jonathan Bakewell, VP, Head of Segment Office and Book Papers, Stora Enso.

Pandemic reinforced reading

stora new1Clearly the pandemic had a positive effect on reading, with 63% of all respondents and nearly 70% in the UK and US, saying they read more. Of the youngest group polled (16 to 24 years), 64% said they read more, notably 76% of young people in the US and 73% in the UK.

The demand among youth seems partially fuelled by the manga-book craze, driven by Netflix anime series as well as an explosion in top-selling teen romance books. For older readers the book market saw a rise in human potential books and mindfulness as people took pause to look inward.  But mostly people said they read or listened to fiction books, mostly for leisure time alone. And the trend looks set to continue.

Why physical books?

The 65% preferring physical books cite their haptic properties. “In addition to being an object of beauty, the physicality of a book feels companionable,” Bakewell says, “Even the smell of a book can evoke pleasant memories for some readers.”

Books and the paper they are printed on are also circular, and renewable – 42% of readers said they like to keep books when they finish reading them, while 26% loan or donate them. A further 26% sell their books and the remaining 5% recycle or discard them. And while books do emit carbon during production and distribution, they are their own carbon storage unit once they are on the shelves.

Place for all formats

While physical books look set to stay dominant, the survey showed there is a time and place for all book formats, with few respondents saying they stuck to just one. E-books and audio books are convenient, light to carry and can be consumed from many different devices.  

Valuing low carbon

Carbon neutrality was high on the agenda for most, with 61% of all respondents and 70% of youth saying they would pay more (on average 5.7% of the retail price) for carbon neutral books. A majority would also buy from an outlet that provided carbon neutral or carbon offset books.

“These findings among many others are making for good conversation starters with our printer and publishing customers,” Bakewell says, “as we begin to figure out as an industry how to best meet the demand for carbon neutrality.”

Part of the global bioeconomy, 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. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has approximately 22,000 employees and our sales in 2021 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).

Published in European News
Tagged under

Stora Enso and Northvolt are joining forces to create sustainable batteries using lignin-based hard carbon produced with renewable wood from the Nordic forests. The aim is to develop the world’s first industrialised battery featuring anode sourced entirely from European raw materials, lowering both the carbon footprint and the cost.

The companies have entered into a Joint Development Agreement to create a sustainable battery featuring anode produced from renewable raw materials sourced sustainably and locally in the Nordic countries.

“The joint battery development with Northvolt marks a step on our journey to serve the fast-growing battery market with renewable anode materials made from trees. Our lignin-based hard carbon, Lignode® by Stora Enso, will secure the strategic European supply of anode raw material, serving the sustainable battery needs for applications from mobility to stationary energy storage,” says Johanna Hagelberg, Executive Vice President for Biomaterials at Stora Enso.

Both companies bring key components, competence, and expertise to the battery partnership. Stora Enso will provide its lignin-based anode material Lignode, originating from sustainably managed forests, while Northvolt will drive cell design, production process development and scale-up of the technology.

2022 07 25 114718

“With this partnership, we are exploring a new source of sustainable raw material and expanding the European battery value chain, while also developing a less expensive battery chemistry. It is an exciting demonstration of how our pursuit of a sustainable battery industry goes hand-in-hand with creating a positive impact both on society and cost,” says Emma Nehrenheim, Chief Environmental Officer at Northvolt. 

Lignin is a plant-derived polymer found in the cell walls of dry-land plants. Trees are composed of 20–30% of lignin, where it acts as a natural and strong binder. It is one of the biggest renewable sources of carbon anywhere.

Stora Enso’s pilot plant for bio-based carbon materials is located at the Group’s Sunila production site in Finland, where lignin has been industrially produced since 2015. The annual lignin production capacity is 50,000 tonnes, making Stora Enso the largest kraft lignin producer in the world. The Group is also evaluating its first industrial production of Lignode at the Sunila site through a feasibility study.

Northvolt is a European supplier of sustainable, high-quality battery cells and systems. Founded in 2016 to enable the European transition to a decarbonized future, the company has made swift progress on its mission to deliver the world’s greenest lithium-ion battery with a minimal CO2 footprint and has grown to over 3,000 people from over 100 different nationalities. Northvolt has to date secured more than $55 billion worth of contracts from key customers, including BMW, Fluence, Scania, Volkswagen, Volvo Cars and Polestar, to support its plans, which include establishing recycling capabilities to enable 50 percent of all its raw material requirements to be sourced from recycled batteries by 2030.

Part of the global bioeconomy, 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. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has approximately 22,000 employees and our sales in 2021 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). www.storaenso.com

Published in European News
Tagged under
Thursday, 23 June 2022 12:03

Change in Stora Enso’s Group Leadership Team

Kati ter Horst, Executive Vice President, Paper Division and a member of the Group Leadership Team, has decided to leave Stora Enso as of 1 July 2022. After more than 25 years with the Company, she will now pursue career opportunities outside of Stora Enso.

Kati ter Horst joined Stora Enso in 1996 and has been leading the Company’s Paper division since 2014.

stora new 2017“As a highly valued member of our Group Leadership Team, Kati has been instrumental in driving Stora Enso’s transformation journey into a renewable materials company by contributing to strategy development. She has showed strong leadership and has played a key role in the extensive restructuring process of our paper business. I want to express my gratitude to Kati for her significant contributions to Stora Enso, while wishing her all the best in her future endeavours,” says Annica Bresky, President and CEO at Stora Enso.

"I have had a fantastic international career at Stora Enso, and I am very thankful for all that I have learned and for the opportunity to work with great people. This is a good moment for me to leave and start something new,” says Kati ter Horst.

In addition to his other duties, Seppo Parvi, CFO, will assume acting responsibility for the Paper division.

Stora Enso announced in March this year that it was initiating a sales process for possible divestment of four of its five paper production sites. The process is ongoing. Stora Enso has started a feasibility study at its paper production site in Langerbrugge, Belgium, for the conversion of one of the two paper lines into a high-volume recycled containerboard line. The feasibility study is expected to be finalised in the first half of 2023.

Part of the global bioeconomy, 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. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has approximately 22,000 employees and our sales in 2021 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). storaenso.com/investors

Published in European News
Tagged under

Stora Enso has divested its three corrugated packaging plants in Russia. The Company’s Lukhovitsy, Arzamas and Balabanovo packaging plants have been divested to local management.

Stora Enso’s assessment is that due to the uncertainties in the Russian market, local ownership and operation will provide a more sustainable long-term solution for these businesses and their respective employees.

stora new 2017The transaction will have no material impact on Stora Enso’s annual sales and Operational EBIT. Due to reduced business prospects for these businesses, an impairment loss of EUR 35 million was recorded in the first quarter result. The additional loss on the transaction under IFRS will be approximately EUR 55 million, consisting mainly of currency translation adjustments to be recorded at the closing date. The expenses are considered as items affecting comparability.

The divested sites are located in Lukhovitsy, Arzamas and Balabanovo employing approximately 620 people and have a total annual capacity of 395 million m² of corrugated packaging. The sites primarily produce corrugated packaging for grocery, home improvement, confectionery and pet food segments in the domestic Russian market.

Stora Enso announced on 2 March 2022 that it would stop all production and sales in Russia until further notice. On 25 April, Stora Enso announced the divestment of its two sawmills and forest operations in Russia to local management.

Part of the global bioeconomy, 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. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has approximately 22,000 employees and our sales in 2021 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). storaenso.com

Published in European News
Tagged under

Stora Enso has entered into an agreement to divest its two sawmills in Russia. The Company’s Nebolchi and Impilahti sawmills will be divested to local management. In addition, the divestment includes Stora Enso’s Russian forest operation which through its harvesting supplies wood to the sawmills.

Stora Enso’s assessment is that due to the uncertainties in the Russian market, local ownership and operation can provide a more sustainable long-term solution for these business operations and the employees working there.

stora new 2017The transaction is, pending necessary approvals, expected to be concluded within Q2 2022 and will have no material impact on Stora Enso’s annual sales and Operational EBIT. Due to decreased business prospects on these businesses, an impairment loss of EUR 70 million has been recorded in the first quarter result. The additional loss on the transaction under IFRS will be approximately EUR 60 million, consisting mainly of currency translation adjustments to be recorded at the closing date. The expenses are considered as items affecting comparability.

The sawmill sites are located in Novgorod and Karelia employing approximately 330 people and have a total annual capacity of 350,000 m3 of sawn timber, including 55,000 m3 of processed timber and 65,000 tonnes of pellets. Stora Enso’s Russian forest operations employs approximately 170 people and manages long-term harvesting rights for around 370,000 hectares.

Stora Enso announced on 2 March 2022 that it would stop all production and sales in Russia until further notice. The Group is in a process to find a sustainable solution for the future of its three packaging plants in Russia.

Part of the global bioeconomy, 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. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has approximately 22,000 employees and our sales in 2021 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). storaenso.com/investors

Published in European News
Tagged under

To support the shift to renewable and recyclable materials in shopping and takeaway bags, Stora Enso launches CarrEco Brown™. Made from 100% fresh fibers, the material has high strength and tear resistance properties and is also safe for direct food contact.

By offering renewable, fiber-based materials suited for paper bags, Stora Enso accelerates the shift away from plastic. Stora Enso now expands its paper bag materials portfolio with CarrEco Brown, a new unbleached and uncoated board that is fully recyclable. Through its unique three-layer structure, CarrEco Brown offers exceptional strength properties suitable for strong shopping bags. The material is also safe for direct food contact and contains only FDA-compliant chemicals which makes it ideal for takeaway food and groceries.

“Unbleached paper bags are a good fit with the preferences of today’s eco-conscious consumers. We are well-positioned to meet the growing demand for paper bags, especially in trending end-use areas such as takeaway food. Our newest material CarrEco Brown can help our customers seize these growth opportunities in a sustainable way,” says Oscar Duarte, Business Segment Director, Kraftliners at Stora Enso Packaging Materials.

2022 03 29 085222

More about CarrEco Brown material

CarrEco Brown is made 100% from renewable fresh fibers from sustainably managed forests and it has a three-layer structure made with patent-pending Tri-Ply™ technology by Stora Enso. CarrEco Brown’s high tensile and tear strength properties make it suitable for strong shopping bags. CarrEco Brown is also safe for direct food contact and contains only FDA-compliant chemicals which makes it ideal for takeaway and grocery bags.

In addition to strength and purity, CarrEco Brown has a natural look and feel and does not contain any optical bleaching agents. The material’s smoothness and formation qualities enable great printability possibilities for brand owners. Available in grammages starting from 85 gsm, CarrEco Brown allows Stora Enso’s customers to grow and expand to new segments within the paper bag market.

Part of the global bioeconomy, 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. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has approximately 22,000 employees and our sales in 2021 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). storaenso.com/investors

Published in European News

Stora Enso has initiated a sales process for a possible divestment of four paper production sites. In line with Stora Enso’s strategy, paper is not a strategic growth area for the Group. The divestment intent is aligned with the Group’s strategy to focus on long-term growth potential for its renewable products in packaging, building solutions and biomaterials innovations.

Stora Enso’s paper production sites intended for divestment are: Anjala in Finland, Hylte and Nymölla in Sweden, and Maxau in Germany. The assets are high-quality sites for paper and pulp production with strong infrastructure, and skilled and experienced staff.

stora new 2017“Through divesting a majority of our paper assets, we are able to increase the focus on our defined strategic growth areas of renewable packaging, building solutions and biomaterials innovations. When assessing potential divestment options, we look for new ownership that will provide a sustainable long-term future for the sites and the people that work there,” says President and CEO Annica Bresky.

The four Stora Enso sites are subject to divestment in one or a series of transactions. Stora Enso has not committed to a deadline for the conclusion of the divestment process. The initiated sales process has no immediate effect on Stora Enso’s paper operations which continue to serve their respective customers. Stora Enso’s Langerbrugge site in Belgium will be retained within the Group.

Stora Enso currently has five paper production sites that are supported by divisional sales, management, and administrative functions. In total, the Paper division currently employs approximately 2,200 employees. In 2021, the Paper division’s net sales amounted to EUR 1,703 million.

Stora Enso has retained BofA Securities to assist in the sales process.

Part of the global bioeconomy, 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. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has approximately 22,000 employees and our sales in 2021 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). storaenso.com/investors  

Published in European News
Tagged under
Page 1 of 22