Displaying items by tag: Stora Enso

Stora Enso will start co-determination negotiations concerning possible temporary lay-offs at its Finnish sawmills, which are at Kitee, Uimaharju,Varkaus and Honkalahti. The planned lay-offs are in response to the threat that wood cost levels in Finland will become even more uncompetitive if current trends continue.

“We are increasingly concerned by the trend in Finnish raw material prices. We need to prepare ourselves to take rapid corrective actions if raw material prices continue to escalate and can no longer be compensated by increases in end-product prices or efficiency improvements,” says Hannu Kasurinen, EVP, Stora Enso Wood Products.

The total number of employees affected by the co-determination negotiations in Finland is about 500. The negotiations address the plan to curtail production at individual sawmills if necessary through temporary lay-offs between 1 September and 31 December 2010. In Finland Stora Enso has a total capacity of about 1.3 million cubic metres of sawn timber per year.                                  

For further information, please contact:                                       
Hannu Kasurinen, EVP, Stora Enso Wood Products, tel. +358 2046 21222           
Ulla Paajanen-Sainio, Head of Investor Relations, tel. +358 2046 21242         
Päivi Kauhanen, Director, Communications in Finland, tel. +358 2046 21380

Published in European News
Tagged under

Stora Enso has signed an agreement with the European Investment Bank (EIB) for a EUR 165 million loan to be used for research and development. The loan agreement is part of the commitment by EIB to lend altogether EUR 230 million to Stora  Enso, including the EUR 65 million loan announced on 10 February 2010.          

“We have a long and good relationship with EIB. This is its third loan for Stora Enso's research and development projects. We are pleased with the competitive terms of the loan,” says Stora Enso CFO Markus Rauramo.                         

“Stora Enso invested EUR 71.1 million in research and development in 2009. Research and development concentrates on steering of networked strategic research as well as operations and product development in three research centres: Imatra in Finland, Karlstad in Sweden and Mönchengladbach in Germany. The Packaging Business Area, for instance, focuses its research and development on sustainable fibre-based packaging materials and solutions,” says Jukka Kilpeläinen, Senior Vice President, Group R&D.                                  

For further information, please contact:                                        
Jyrki Tammivuori, SVP, Group Treasurer, tel. +358 2046 21043                    
Ulla Paajanen-Sainio, Head of Investor Relations, tel. +358 2046 21242

Published in Financial News
Tagged under

Stora Enso Executive Vice President Elisabet Salander Björklund, M.Sc. (For.), has been appointed CEO of Bergvik Skog AB as of 1 September 2010. Bergvik Skog is one of the biggest forest-owning private companies in Europe and is owned by Stora Enso, Korsnäs, several institutions, pension funds and some private owners.

 

In Stora Enso Elisabet Salander Björklund has most recently been responsible for Wood Supply, HR and Sustainability, regionally responsible for Latin America and Country Manager for Sweden. She has been a member of the Stora Enso Group Executive Team since 2005 and the extended management team since 2003.

 

Bergvik has 1.9 million hectares of productive forest land in Sweden and 35 000 hectares in Latvia. Company has an annual harvesting volume of about 7 million cubic metres. Bergvik owns three nurseries with annual production of 52 million seedlings. When Bergvik Skog AB was founded, it acquired all the forest land previously owned by Stora Enso and Korsnäs in Sweden.

 

"Elisabet Salander Björklund has in recent years been responsible for many different areas in Stora Enso Executive Management. Among others, apart from her current duties, I would like to highlight Stora Enso Wood Products and Pulp Supply. She has been an active and valuable member in the team. However, with her education and background, the opportunity to become the CEO of Bergvik is naturally a tempting one and I understand her choice. I would like to thank her for excellent work in Stora Enso and wish her the best of luck in the new position," says Stora Enso CEO Jouko Karvinen.

 

Elisabet Salander Björklund's responsibilities are being divided with effect from 4 May 2010 as follows: regional responsibility for Latin America headed by President, Stora Enso Latin America Nils Grafström will be taken over by CEO Jouko Karvinen and her role as Country Manager Sweden will be taken over by Executive Vice President Mats Nordlander in addition to his current duties as Head of Packaging and Asia Pacific. The Sustainability function headed by Senior Vice President Eija Pitkänen will report to Head of Communications, Senior Vice President Lauri Peltola and the Wood Supply function headed by Senior Vice President Johan Lindman will report to EVP Mats Nordlander. Elisabet Salander Björklund will continue to lead Group HR until a new Group HR Director is appointed.

 

For further information, please contact:
Elisabet Salander Björklund, EVP, tel. +46 70 578 2751
Jonas Nordlund, Communications Director, Sweden, tel. +46 1046 82763

Published in European News
Tagged under

Stora Enso has launched the Global Responsibility website and Facebook page for discussing responsibility topics. One of the highlights of the website is a dialogue session between Sini Harkki from Greenpeace and Stora Enso's CEO Jouko Karvinen. The Facebook page offers an open forum for straight talk about critical responsibility topics.

"The idea of the Global Responsibility website and Facebook page is the direct contact with our stakeholders without intermediaries or censorship," says Jouko Karvinen, Stora Enso's CEO. "In today's world we have to find new ways to listen, discuss and learn. That is the only way to make tomorrow better for all of us."

"People have a lot of questions and concerns about the right to use wood and paper, the destiny of forests and human rights at plantations," Karvinen continues. "Those questions and concerns are the basis of the Global Responsibility website and Facebook page. Stora Enso wants to start a discussion on what kind of responsibility people expect from companies. What should be the role of a company and what are the roles of NGOs, consumers and governments."

The Global Responsibility website features people from a CarrotMob representative, a forest owner, a plantation specialist and a Greenpeace representative to Stora Enso's CEO, discussing various challenging topics related to responsibility. The website also offers a wealth of information for digging deeper into the issue.

Please navigate to
www.storaenso.com/globalresponsibility
www.facebook.com/globalresponsibility

For further information, please contact:
Lauri Peltola, Head of Communications, tel. +358 2046 21380 This email address is being protected from spambots. You need JavaScript enabled to view it.

Published in European News
Tagged under

On Thursday 22 April 2010 Stora Enso will announce its first quarter 2010 financial results and CEO message as two separate releases around 09:00 Finnish time (08:00 CET). The following event will take place later that day:

Webcast and conference call for analysts and investors

Topic: Q1 2010 Financial Results
Date: Thursday 22 April 2010
Time: 16:00 Finnish Time (15:00 CET, 14:00 BST, 09:00 EDT)

Webcast is hosted by Jouko Karvinen, CEO & Markus Rauramo, CFO and may be viewed on the Stora Enso website: www.storaenso.com/investors

Conference call dial-in details:

--------------------------------------------------------------------------------
| Live Event: | |
--------------------------------------------------------------------------------
| UK & International | +44 (0)20 7138 0825 |
--------------------------------------------------------------------------------
| Finland | (09) 2319 4344 |
--------------------------------------------------------------------------------
| Sweden | (08) 5352 6439 |
--------------------------------------------------------------------------------
| US | +1 212 444 0481 |
--------------------------------------------------------------------------------
| Confirmation Code: | 2879284 |
--------------------------------------------------------------------------------
| Replay: | |
--------------------------------------------------------------------------------
| UK & International | +44 (0)20 7111 1244 |
--------------------------------------------------------------------------------
| Finland | (09) 2310 1650 |
--------------------------------------------------------------------------------
| Sweden | (08) 5051 3897 |
--------------------------------------------------------------------------------
| US | +1 347 366 9565 |
--------------------------------------------------------------------------------
| Access Code: | 2879284# |
--------------------------------------------------------------------------------

The conference call replay will be available until 14:00 BST, Thursday 29 April
2010.
The webcast will be archived on www.storaenso.com/investors

For further information, please contact:
Ulla Paajanen-Sainio, SVP, Investor Relations, tel. +358 2046 21242
www.storaenso.com
www.storaenso.com/investors

Stora Enso is the world leader in forest industry sustainability. We offer our customers solutions based on renewable raw materials. Our products provide a climate-friendly alternative to many non-renewable materials, and have a smaller carbon footprint. Stora Enso is listed in the Dow Jones Sustainability Index and the FTSE4Good Index. Stora Enso employs some 27 000 people worldwide, and our sales in 2009 amounted to EUR 8.9 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) in the International OTCQX over-the-counter market.

Published in Financial News
Tagged under

STORA ENSO OYJ STOCK EXCHANGE RELEASE 23 March 2010 at 7.00 GMT

Stora Enso's Board of Directors will, as announced on 4 February 2010, propose to the Annual General Meeting of the Company to be held on 31 March 2010 that EUR 0.20 per share be distributed to the shareholders from the parent company's invested unrestricted equity fund.

Stora Enso has received a legally final advance ruling from the Finnish tax authorities on how the proposed fund distribution of EUR 0.20 per share from the parent company's invested unrestricted equity fund will be treated for tax purposes. The advance ruling only concerns Stora Enso's tax withholding obligations as a distributor of funds. According to the ruling, EUR 0.035 per share will be treated taxwise as dividend and EUR 0.165 per share will be treated taxwise as repayment of invested equity at the point of payment. Stora Enso is liable to withhold due taxes on the part that will be treated as
dividend.

The fund distribution will be treated partly as dividend because part of the funds in the invested unrestricted equity fund originated from earlier years' retained earnings.

For further information, please contact:
Ulla Paajanen-Sainio, Head of Investor Relations, tel. +358 2046 21242

www.storaenso.com

 

Published in Financial News
Tagged under

Stevedores' strike at Finnish ports ended on Friday 19 March.

Strike, which lasted 16 days, affected to Stora Enso’s Finnish mills by closing 6 paper machines and 2 sheeting plants. Almost all closed production has now started again but it will still take weeks to normalize all operations in mills and especially in harbours.

Stora Enso’s website follows the situation and gives update information when needed.

For further information, please contact:

Media: Päivi Kauhanen, Director, Communications Finland, tel. +358 2046 21292
Investors: Ulla Paajanen-Sainio, Head of Investor Relations, tel. +358 2046 21242

Published in European News
Thursday, 04 February 2010 10:40

Stora Enso's and Arauco's joint-venture

storaensoStora Enso's and Arauco's joint-venture company in Uruguay, Montes del Plata, has decided to initiate a feasibility study on Punta Pereira as the site for a possible future pulp mill. Punta Pereira was also the site chosen for Spanish pulp maker ENCE's planned pulp mill. Stora Enso and Arauco acquired the majority of ENCE's operations in Uruguay in October 2009.                                

Studies prepared by Montes del Plata show that Punta Pereira, in the Department of Colonia, is a promising location for the possible pulp mill and therefore more detailed economic, technical, environmental and social studies are justified. Punta Pereira also offers flexibility in terms of planning of a long-term investment.                                                           

“We have come out with a decision which is based on our preliminary economic, operational and environmental findings. The identification of Punta Pereira will allow us to proceed to the next phase - a detailed feasibility study,” says Stora Enso CEO Jouko Karvinen.                                                  

The final decision on construction of the new pulp mill will be taken by the Boards of Directors of Stora Enso, Arauco and Montes del Plata once the feasibility study is completed.                                                 

For further information, please contact:                                        
Jouko Karvinen, CEO, tel. +358 2046 21410                                       
Nils Grafström, President, Stora Enso Latin America, tel. +55 1181 759 283      
Lauri Peltola, Head of Group Communications, tel. +358 2046 21380               

www.storaenso.com

www.storaenso.com/investors

Stora Enso is the world leader in forest industry sustainability. We offer our customers solutions based on renewable raw materials. Our products provide a climate-friendly alternative to many non-renewable materials, and have a smaller carbon footprint. Stora Enso is listed in the Dow Jones Sustainability Index and the FTSE4Good Index. Stora Enso employs 29 000 people worldwide, and our sales in 2008 amounted to EUR 11.0 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) in the International OTCQX over-the-counter market.                                                       
STORA ENSO OYJ

Published in European News
Tagged under
Thursday, 25 February 2010 09:15

Stora Enso's Annual Report 2009 published

storaensoStora Enso's Annual Report 2009 is published today as PDF documents. Stora Enso's Annual Report is comprised of three separate reports: Stora Enso 2009, Financial Performance 2009 and Sustainability Performance 2009.

Stora Enso 2009 is available in English, Finnish and Swedish. Financial Performance 2009 and Sustainability Performance 2009 are available in English. All three reports can be downloaded at the Group's website at www.storaenso.com/annualreport.

The printed Annual Report will be published during the week commencing Monday 8 March 2010. Stora Enso 2009 will be distributed to those shareholders in Finland and Sweden who have so requested, and to all registered ADR holders. Printed copies of all the reports can be ordered at www.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.

All of these documents are available on the Group's website.

For further information, please contact:
Sanna Lahti, Director, Financial and Change Communications, tel. +358 2046 21251

www.storaenso.com
www.storaenso.com/investors

Stora Enso is the world leader in forest industry sustainability. We offer our customers solutions based on renewable raw materials. Our products provide a climate-friendly alternative to many non-renewable materials, and have a smaller carbon footprint. Stora Enso is listed in the Dow Jones Sustainability Index and
the FTSE4Good Index. Stora Enso employs some 27 000 people worldwide, and our sales in 2009 amounted to EUR 8.9 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) in the International OTCQX over-the-counter market.

STORA ENSO OYJ

Jari Suvanto Ulla Paajanen-Sainio

Attachments:
stora enso_eng_sustainability_performance_2009.pdf
stora enso_eng_corporate governance 2009.pdf
stora enso_eng_financial_performance_2009.pdf
stora enso_eng_parent company financial statements_2009.pdf
stora_enso_2009_eng.pdf

Published in Financial News
Wednesday, 10 February 2010 13:45

Stora Enso signs EUR 65 million loan agreement

storaensoStora Enso has signed an agreement with the European Investment Bank (EIB) for a EUR 65 million loan to be used for the Ostroleka power plant construction project in Poland. The loan agreement is part of the commitment by EIB to lend altogether EUR 230 million to Stora Enso for research and development and the Ostroleka power plant project.

"We have a long and good relationship with EIB and we are delighted that through this agreement EIB is supporting our power plant project to improve Ostroleka Mill's energy self-sufficiency and energy efficiency. Along with the Langerbrugge and Maxau energy investments, the Ostroleka power plant is one of our biggest cost improvement investments this year at our existing mills in Europe. The terms of the loan are very competitive," says Stora Enso CFO Markus Rauramo.

The Ostroleka power plant to be completed in the third quarter of 2010 will further improve the cost competitiveness of Stora Enso's operations in Poland. As announced on 3 November 2008, the total investment in the Ostroleka power plant is estimated at EUR 137 million.

For further information, please contact:
Jyrki Tammivuori, SVP, Group Treasurer, tel. +358 2046 21043
Ulla Paajanen-Sainio, Head of Investor Relations, tel. +358 2046 21242

Published in Financial News
Page 23 of 23