Stora Enso Oyj (STEAV.HE) Key Developments | Reuters.com
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Stora Enso Oyj (STEAV.HE)

STEAV.HE on Helsinki Stock Exchange

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23 Jun 2016
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Latest Key Developments (Source: Significant Developments)

Stora Enso: court dismisses claim of Metsahallitus
Wednesday, 22 Jun 2016 06:55am EDT 

Stora Enso Oyj : Helsinki District Court dismissed Metsahallitus' claim for damages against Stora Enso Oyj, Metsaliitto Cooperative and UPM-Kymmene Oyj . According to Metsahallitus the companies had purchased roundwood from it below market prices during 1997-2005 . Stora Enso considers the ruling by the District Court to be correct Further company coverage: [STERV.HE] (Helsinki Newsroom) ((news@reuters.fi; +358 9 6805 0244;)).  Full Article

Stora Enso completes bond repurchases, negative impact 34 million euros
Tuesday, 14 Jun 2016 09:00am EDT 

Stora Enso Oyj : Says has repurchased notes with a nominal value of 284,6 million euros from the 2018 bond, and of 67,4 million euros from the 2019 bond, issued in 2012 . Says negative impact on net financial items in Stora Enso's second quarter 2016 results will be 34 million euros ($38.19 million) . Says 2018 bond is priced at an interpolated mid-swaps rate + 35 basis points, which implies a yield of 0.184 percent and a price of 108.435 .Says 2019 bond is priced at an interpolated mid-swaps rate +90 basis points, which implies a yield of 0.746 percent and a price of 112.765.  Full Article

Stora Enso ups fluff pulp capacity at Skutskär mill in Sweden
Thursday, 9 Jun 2016 02:00am EDT 

Stora Enso Oyj : Stora Enso increases its fluff pulp capacity at Skutskär mill in Sweden . Will invest 26.5 million euros ($30.20 million) in Skutskär pulp mill to increase its fluff capacity to meet growing demand in hygiene market . Mill's softwood capacity is expected to be reduced by 160,000 tonnes, starting from year 2018 .Investment is expected to be completed during Q2 2018.  Full Article

Stora Enso issues new bond, makes tender offer for outstanding bonds
Tuesday, 7 Jun 2016 11:20am EDT 

Stora Enso Oyj : Says has successfully issued a new 300 million euros ($340.47 million) seven-year Eurobond under its EMTN programme . Says bond matures in June 2023 and pays a fixed coupon of 2.125 percent . Says issue price was 99.711, equivalent to a yield of 2.17 percent .Says is also announcing a tender offer for its outstanding 500 million euros fixed rate notes maturing in 2018 and 2019.  Full Article

Stora Enso to close Suzhou paper mill and to divest site in China
Monday, 6 Jun 2016 02:00am EDT 

Stora Enso Oyj : To close its Suzhou paper mill and to divest the site in China . Cash consideration for divestment of assets is about 240 million euros ($272.21 million) . Has signed an agreement to divest key assets of its Suzhou mill in China . Total gain on disposal to be reported in operating profit amounts to about 180 million euros . Total net gain including closure related costs after tax will be about 150 million euros . Production is planned to be stopped during June and transaction is expected to be completed in Q4 . Based on annual figures for 2015, divestment is expected to reduce Stora Enso's annual sales by 126 million euros .Suzhou mill currently employs approximately 500 people, who will receive support in finding new employment opportunities.  Full Article

Stora Enso to divest Kabel mill in Germany
Wednesday, 1 Jun 2016 02:00am EDT 

Stora Enso Oyj : Says has signed an agreement to divest its Kabel coated mechanical paper mill in Germany to Hagen-Kabel Pulp & Paper GmbH, owned by a German based investor group . Says cash consideration for divestment of assets is approximately 23 million euros ($25.58 million), subject to customary closing day adjustments. Loss on disposal amounts in total to 15 million euros. . Says effect on operating profit is approximately 5 million euros, and negative tax impact is approximately 10 million euros . Says based on 2015 annual figures, divestment is expected to reduce Stora Enso's annual sales by approximately 300 million euros . Says will also reduce Stora Enso's annual paper production capacity by around 485 000 tonnes .Says transaction is expected to be completed in q3 of 2016.  Full Article

Stora Enso starts packaging board machine in China
Friday, 27 May 2016 02:00am EDT 

Stora Enso Oyj : says new consumer board machine at Beihai mill in China started production on 26 May . says total investment in the project is 800 million euros, including a bleached chemi-thermomechanical (BCTMP) pulp mill with an annual capacity of 220,000 tonnes, operational in the fourth quarter of 2016 .says the board machine is expected to reach full production within 18‒24 months.  Full Article

Stora Enso invests 70 million euros in packaging boards
Wednesday, 18 May 2016 02:11am EDT 

Stora Enso Oyj : Says is investing 70 million euros ($78.97 million) in Imatra mills, Finland, to increase capacity for producing extrusion coated products . Says investment will meet increasing customer demand for food service board and liquid packaging board . Says investment will begin in Q2 2016 and is expected to be completed in early Q4 2017 .Says investment is in line with the group’s full year 2016 capital expenditure guidance, which is anticipated to amount to 680–720 million euros.  Full Article

Stora Enso Oyj evaluates expansion of Poland's Ostroleka mill
Thursday, 28 Apr 2016 05:59am EDT 

Stora Enso Oyj:Says evaluates expansion of Ostroleka Mill production.Says if investment is approved following feasibility study, capital expenditure for expansion is estimated to be in range of 350-400 million euros over a couple of years.  Full Article

Stora Enso Oyj divests ownership in IL Recycling
Friday, 8 Apr 2016 05:00am EDT 

Stora Enso Oyj:Signed an agreement to divest 33.33 percent ownership in Swedish recycled materials company IL Recycling AB to Stena Metall AB.Consideration for divestment of shares is about 236 million Swedish crowns ($28.93 million), subject to customary closing day adjustments.Will record a capital gain of about 16 million euros related to transaction as a positive non-recurring item.Transaction will not have material impact on its operational EBIT going forward.  Full Article

UPDATE 2-Finland's TVO says Areva ended talks on delayed reactor project

HELSINKI, May 26 French nuclear group Areva has broken off talks with Finnish utility Teollisuuden Voima (TVO) over the delayed Olkiluoto 3 nuclear reactor, TVO said on Thursday.