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Stora Enso Oyj (STEAV.HE)

STEAV.HE on Helsinki Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Stora Enso plans to close corrugated packaging plant in Finland
Thursday, 15 Sep 2016 03:09am EDT 

Stora Enso Oyj : says plans consolidation of corrugated packaging production in Finland . According to the plan, the Heinola Corrugated plant would be closed permanently and packaging manufacturing transferred to the Lahti plant . says would invest approximately 19 million euros in new machinery and supporting infrastructure in Lahti . Says possible personnel reduction within plants in Lahti and Heinola combined is about 60 persons . says corrugated packaging production at the Kristiinankaupunki plant will be continued, Heinola Fluting mill for containerboard will not be affected . the plan will have a negative impact of approximately EUR 9 million which will be recorded as an item affecting comparability in Stora Enso's third quarter results Further company coverage: [STERV.HE] (Helsinki Newsroom) ((news@reuters.fi; +358 9 6805 0244)).  Full Article

Stora Enso completes paper mill divestment
Thursday, 1 Sep 2016 08:06am EDT 

Stora Enso Oyj : says has completed the divestment of its Kabel coated mechanical paper mill in Germany, to Kabel Premium Pulp & Paper GmbH . total cash consideration for divestment is approximately EUR 25 million, subject to final closing adjustments . The loss on disposal amounts in total EUR 15 million, effect on operating profit approximately EUR 5 millionFurther company coverage: [STERV.HE] (Helsinki Newsroom) ((news@reuters.fi; +358 9 6805 0244;)).  Full Article

Stora Enso invests in packaging business in Sweden
Monday, 29 Aug 2016 07:06am EDT 

Stora Enso Oyj : Says is investing a total of 6.6 million euros ($7.38 million) in corrugated packaging business in Sweden . Says investment encompasses a new corrugated cutting machine in the Jonkoping factory, and a smaller upgrade of the cutting system in the Skene factory . Says investment will lead to increased production efficiency which in turn will result in staff redundancies .Says negotiations with the unions about the redundancies will commence shortly.  Full Article

Stora Enso to review troubled paper business
Thursday, 21 Jul 2016 07:10am EDT 

Stora Enso Oyj : Says project has been initiated to "plan for the most efficient way to manage paper business" . Says is reviewing "how to create the best conditions for the Paper division to compete under increasing cost pressures and declining market demand" . Asked whether the review could lead to changes in the unit's ownership, CEO Karl-Henrik Sundstrom told a news conference: "This project is basically to make sure what we can do within our own ownership structure, so it is an internal project" . Sundstrom also said there will be no decision taken on Beihai pulp mill investment in the next coming two years Further company coverage: [STERV.HE] (Helsinki Newsroom) ((news@reuters.fi; +358 9 6805 0244;)).  Full Article

Finland's Stora Enso says may expand Swedish plant
Wednesday, 29 Jun 2016 02:14am EDT 

Stora Enso Oyj : Says reviewing the possibility of expanding Gruvon mill in Sweden in order to assess the feasibility of building a cross-laminated timber (CLT) production unit . expansion would add a total annual capacity of approximately 75,000 m3CLT . feasibility study will evaluate the profitability of the possible expansion, as well as integration benefits and design criteria for the plant . feasibility study is expected to be completed by the end of 2016 .capital expenditure for the expansion is estimated to be in the range of EUR 30−34 million.  Full Article

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

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Paper maker Stora Enso fuels M&A talk with internal review

HELSINKI Stora Enso , the Finnish maker of paper, pulp and packaging, has begun an internal review of its paper business, reviving speculation on further restructuring in an industry hit hard by the growth of online publishing.