Follow us: Luxe Packaging Insight – news & innovations on the luxury packaging market

Stora Enso continues to divest paper production capacity

Alissa Demorest

Related topics :

,
Be the first to react

Comment

Stora Enso continues to divest paper production capacity

The Finnish supplier has announced it is to sell four of its five remaining paper production sites in Europe as it focuses on growing the packaging, biomaterials and building materials segments of its business.

In line with its strategy of driving three key growth divisions: packaging, biomaterial innovations and building materials, Stora Enso is moving to further divest its production of paper products. The division employs a staff of around 2,200 and reported sales of €1.70m in 2021.

“Paper products have continued their structural decline,” noted President and CEO Annica Bresky in the company’s 2021 annual report. Last year, paper sales accounted for 16% of the company’s business.

In addition to the already shuttered sites of Kvarnsveden (Sweden), Veitsiluoto (Finland) and Sachsen in Germany, Stora Enso is in the process of selling two more sites in Sweden (Hylte and Nymölla), one in Finland (Anjala) and one in Germany (Maxau). The Langebrugge site in Belgium, however, will remain in the group.

In other news, in reaction to Russia's invasion of Ukraine, early March Stora Enso announced that it was stopping production and sales at its three packaging sites and two sawmills in Russia. The supplier’s sales in Russia account for 3% of total turnover. 

Editor's picks

Fedrigoni snaps up Zuber Rieder, continuing acquisition spree

Interview

Fedrigoni snaps up Zuber Rieder, continuing acquisition spree

In line with its focus on the luxury labels market, Italian paper and labels group Fedrigoni, owned by private-equity player Bain, has purchased independent French label paper manufacturer Zuber Rieder. Fedrigoni CEO Marco Nespolo tells Luxe[…]

11/17/2022 | M&ACorporate strategy
Autajon Group enters South Korea with Pacific Package acquisition

Autajon Group enters South Korea with Pacific Package acquisition

How Guala Closures' future UK site fits with its premiumization strategy

How Guala Closures' future UK site fits with its premiumization strategy

Positive changes at Technicaps

Advertorial

Positive changes at Technicaps

More articles