Stora Enso has completed the divestment of its Maxau paper production site in Germany, and all related assets to Schwarz Produktion, part of Schwarz Group. The divestment was completed after regulatory approvals. The enterprise value of the transaction is approximately Euro 210 million.
The transaction will reduce Stora Enso’s annual SC (supercalendered) paper capacity by 530,000 tonnes. Based on the 2022 figures, the divestment is expected to reduce Stora Enso’s annual sales by approximately Euro 385 million. Subject to closing date adjustments, Stora Enso will book a one-time disposal gain of approximately Euro 55 million in its IFRS operating profit in the first quarter of 2023, considered as an item affecting comparability.
This transaction is part of the earlier announced plan to divest four of Stora Enso’s five paper production sites.
Schwarz Produktion is the umbrella brand for the production companies of Schwarz Group. In total, more than 4,500 employees in the Schwarz Produktion companies produce high-quality food as well as sustainable packaging and materials for the retail companies Lidl and Kaufland.
Stora Enso is a leading provider of renewable products in packaging, biomaterials and wooden construction, and one of the largest private forest owners in the world.
