Key Developments: Stora Enso Oyj (STERV.HE)

STERV.HE on Helsinki Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Stora Enso invests EUR 27 mln euros in Imatra Mills in Finland
Thursday, 23 Oct 2014 02:00am EDT 

Stora Enso Oyj:Invests 27 million euros to improve the quality and cost-competitiveness and to increase the capacity of the consumer board machine 5 by 20,000 tonnes at its Imatra Mills in Finland.The investment will focus on the coating part of the machine and on modernising the winder and reel packaging section.  Full Article

Stora Enso Oyj gives Q4 2014 outlook
Wednesday, 22 Oct 2014 06:01am EDT 

Stora Enso Oyj:Expects Q4 2014 sales to be roughly similar to 2,514 mln Euro in Q3 2014.Expects Q4 2014 EBIT to be somewhat lower than the 210 mln Euro in Q3 2014 due to normal seasonal weakness in the Renewable Packaging and Building and Living divisions.Q4 2014 revenue of 2,581 mln Euro, EBIT of 205 mln Euro - Thomson Reuters I/B/E/S.  Full Article

Stora Enso Oyj divests coreboard and core manufacturer Corenso
Tuesday, 30 Sep 2014 02:05am EDT 

Stora Enso Oyj:Signs an agreement to divest its Corenso business operations to the Finnish packaging materials company Powerflute Oyj.Says the enterprise value of the transaction is about 90 mln Euros, and the expected all cash consideration about 75 mln Euros.Closing of the transaction is expected to take place during the Q4 2014.The transaction's impact on Stora Enso's income statement will be approximately break-even.  Full Article

Stora Enso is investing EUR 32 million to build demonstration plant in Louisiana, USA
Tuesday, 2 Sep 2014 02:15pm EDT 

Stora Enso Oyj:Says is investing 32 million euros ($43 million) in a demonstration and market development plant to be built at Raceland, Louisiana, USA.Says plant will be used for industrial validation of the newly acquired extraction and separation technology developed by Virdia that enables cellulosic biomass, such as wood or agricultural waste, to be converted into highly refined sugars.Says Raceland demonstration plant is scheduled to start production early 2017.  Full Article

Stora Enso Oyj will separate Paper and Timber divisions
Friday, 29 Aug 2014 02:00am EDT 

Stora Enso Oyj:Says is dividing the current Printing and Living division into separate divisions.  Full Article

Stora Enso Oyj gives Q3 2014 outlook
Monday, 21 Jul 2014 06:00am EDT 

Stora Enso Oyj:Expects Q3 2014 sales to be roughly similar to the 2.579 bln Eruos and operational EBIT similar to or slightly lower than the strong 209 mln Euros in Q2 2014.Q3 2014 revenue of 2.602 bln Euros, EBIT of 182 mln Euros - Thomson Reuters I/B/E/S.  Full Article

Stora Enso Oyj postpones reorganization of renewable packaging Division
Monday, 30 Jun 2014 02:08am EDT 

Stora Enso Oyj:Postpones reorganization of renewable packaging division that was announced on March 21, and was originally intended to be implemented as of July 1.Following Jouko Karvinen's decision to leave his position as CEO and announcement of appointment of Karl-Henrik Sundström as new CEO, it has been decided to postpone reorganisation until CEO transition has been completed.Until reorganisation is implemented, Renewable Packaging Division businesses will continue to report to CEO.  Full Article

Stora Enso Oyj appoints Karl-Henrik Sundstrom as new CEO
Monday, 30 Jun 2014 02:07am EDT 

Stora Enso Oyj:Says its board of directors has appointed Karl-Henrik Sundstrom, as new CEO of the company as of Aug. 1.He is currently executive vice president and head of Printing and Living Division of Stora Enso.  Full Article

Stora Enso acquires US-based biotechnology company
Monday, 23 Jun 2014 02:00am EDT 

Stora Enso Oyj:Says it has acquired 100 pct of the shares of the United States-based company Virdia, a developer of extraction and separation technologies for conversion of cellulosic biomass into highly refined sugars and lignin.The upfront debt-free transaction value is about $ 33 million (24 million euros) with additional potential payouts totalling about $ 29 million (21 million euros) following completion of specific technical and commercial milestones by 2017.Virdia’s impact on Stora Enso’s 2014 sales and earnings is expected to be limited.  Full Article

Andritz initiates arbitration proceedings against Stora Enso and Arauco joint venture, Montes del Plata
Monday, 2 Jun 2014 02:00am EDT 

Stora Enso Oyj:Says Andritz Pulp Technologies Punta Pereira S.A. has initiated arbitration proceedings against Montes del Plata's Celulosa y Energia Punta Pereira S.A. (CEPP) claiming 200 million euros.Montes del Plata is a joint-venture company formed by Stora Enso and Arauco, and Andritz Pulp Technologies Punta Pereira S.A. is a subsidiary of Andritz AG.The arbitration relates to contracts for the delivery, construction, installation, commissioning and completion by Andritz of major components of the Montes del Plata pulp mill project located at Punta Pereira in Uruguay.CEPP disputes the claims brought by Andritz and will also actively pursue claims of its own against Andritz for breach by Andritz of its obligations under the contracts.No provisions have been made concerning the arbitration proceedings.  Full Article

Stora Enso's German paper mill deal cancelled

HELSINKI, Oct 9 - Finnish pulp and paper maker Stora Enso said on Thursday a deal to sell its loss-making paper mill in Uetersen, Germany to Austria's Brigl & Bergmeister had been cancelled due to opposition from Germany's competition watchdog.

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