Stora Enso's subsidiary Pakenso is to sell its moulded pulp packaging unit in Varkaus, Finland, to Danish Brødrene Hartmann A/S. The unit produces 75 million egg packages per year for the Finnish and Russian markets. The transaction is in line with Pakenso's (as of 1 January 2000, Stora Enso Packaging) strategy to concentrate on its core business, corrugated board. A letter of intent has been signed by Pakenso and Hartmann, and the deal is scheduled to be concluded on 1 January 2000.
In 1998, the Varkaus packaging unit generated sales of EUR 5.7 million. It has about 50 employees, all of whom will continue in Hartmann's service and retain their existing employment benefits.
Brødrene Hartmann A/S is one of the world's leading producers of moulded-fibre packaging materials. It has manufacturing facilities in eight countries in Europe, Latin America and Asia, sales companies in 15 countries, and licensees in 35 countries. In 1998, the company had a turnover of DKK 1,065.8 million (EUR 144 million).
For further information please contact:
Markku Pentikäinen, Managing Director, Pakenso Oy, tel. +358 2046 27403
Niels Mogensen, Executive Director, Brødrene Hartmann A/S, tel. +45 45 87 50 30
Stora Enso Oyj, one of the world's leading forest products companies, is listed on the Helsinki and Stockholm stock exchanges. Stora Enso focuses on the production of magazine papers, newsprint, fine papers and packaging board. In these product areas, the Group holds a leading global position. Stora Enso also conducts extensive sawmilling operations. Stora Enso has annual sales of approximately EUR 10 billion, with some 40,000 employees in more than 40 countries.
Pakenso Oy is the largest corrugated board producer in the Baltic Sea region. Pakenso has annual sales of EUR 250 million, and some 1,500 employees in Finland, Sweden, Russia, Poland, Estonia, Latvia and Lithuania.
