STORA ENSO OYJ STOCK EXCHANGE RELEASE 12 February 2009 at 07.00 GMT
Stora Enso has signed an agreement to sell the buildings and most of the Summa
Mill site in Finland to Google Group of Companies for approximately EUR 40
million. The sale is expected to close by the end of the first quarter 2009. The
transaction will improve operating profit by approximately EUR 38 million, of
which approximately EUR 15 million is a reversal of earlier impairment, and will
be recorded as a non-recurring item in the first quarter 2009 results.
Stora Enso and Google have agreed that part of the mill site will be further
transferred to the City of Hamina for other industrial uses.
Paper production at Summa Mill ended in January 2008 and will not be resumed.
Google will announce its plans or future investment in due course.
For further information, please contact:
Markus Rauramo, CFO, tel. +358 2046 21121
Keith B. Russell, SVP, Investor Relations, tel. +44 20 7121 0910
Ulla Paajanen-Sainio, VP, Investor Relations and Financial Communications,
tel. +358 40 763 8767
Stora Enso is a global paper, packaging and forest products company producing
newsprint and book paper, magazine paper, fine paper, consumer board, industrial
packaging and wood products. The Group has 32 000 employees and 85 production
facilities in more than 35 countries worldwide, and is a publicly traded company
listed in Helsinki and Stockholm. Our annual production capacity is 12.7 million
tonnes of paper and board, 1.5 billion square metres of corrugated packaging and
6.9 million cubic metres of sawn wood products, including 3.2 million cubic
metres of value-added products. Our sales in 2008 were EUR 11.0 billion.
STORA ENSO OYJ
p.p. Jukka Marttila Pia Aaltonen-Forsell