Stora Enso to Divest Baienfurt Sheeting Center

 

Stora Enso, Finland, has signed an agreement to divest its sheeting center business in Baienfurt, Germany, to Pyroll, a Finnish converting firm. The sheeting center operations started in April 2009 and is 100% owned by Stora Enso.

This divestment supports Stora Enso’s growth strategy for its consumer board business, where the focus is to generate value to customers by being the global benchmark in high quality virgin fiber carton board. Running sheeting center operations is not part of Stora Enso’s core business. The new owner has sheeting operations as its core and is in a better position to further develop Baienfurt. Stora Enso will remain a key customer to the Baienfurt sheeting center.

The transaction is expected to be completed during the first quarter of 2018 and it is not expected to have any significant effect on the net debt or financials of Stora Enso. The sheeting center employs approximately 60 people excluding outsourced personnel and had sales of EUR 15 million in 2016.

Pyroll is one of the leading paper, cardboard, paperboard, and plastic converters in the Nordic countries. Today Pyroll employs nearly 600 people, and turnover is about Eur100 million. Operations are divided into three business branches—Pyroll Packages, Pyroll Paper Merchant, and Pyroll Converting.

Stora Enso is a provider of renewable solutions in packaging, biomaterials, wooden constructions, and paper on global markets. The company employs some 25 000 people in more than 35 countries, and its sales in 2016 were EUR 9.8 billion.