Stora Enso's subsidiary Corenso United Oy Ltd has purchased a 20 per cent shareholding in Crown Fibre Tube Inc., a Canadian core and tube manufacturer. Crown Fibre has a mill near Halifax in Nova Scotia and annual sales of about EUR 3 million.
In January 2001 Corenso will become responsible for the operations of the coreboard mill and core factory at Wisconsin Rapids that Stora Enso acquired through the Consolidated Papers acquisition.
Krister Rosenqvist-Packalén, currently Managing Director of Corenso France, will become General Manager of Corenso's operations in North America. He will be based in Wisconsin Rapids. He will report regionally to Aulis Ansaharju, head of the Stora Enso North America Fine Paper Division.
For further information, please contact:
Pekka Harkki, Managing Director, Corenso United Oy Ltd, tel. +358 400 406 523
Tim Laatsch, Senior Vice President, Communications, Stora Enso North America,
tel. +1 715 422 4023
Corenso is a Stora Enso subsidiary with eleven mills in Europe. UPM-Kymmene is a minority
(29 per cent) shareholder in the company. Corenso's products are exported to over sixty countries.
Stora Enso has sales totalling approximately EUR 12 billion (pro forma 1999), with annual paper and board production capacity of about 15.3 million tonnes. The company has some 45,000 employees in more than 40 countries. Its shares are listed on the Helsinki, New York and Stockholm stock exchanges.
