Stora Enso to sell Pankakoski Mill

0

21 July 2006 — Helsinki (FIN): Stora Enso is to sell its Pankakoski Mill in Finland to a group of international investors. The sale is part of the company’s asset performance review which aims to secure a competitive European production base.
             
The debt-free sales price is €20 million ($25.3 million). Following the sale of the Mill, Stora Enso’s packaging board division will decrease by €60 million and working capital will reduce by €12 million.