Stora Enso to divest its Barcelona mill for €10m

By Jenny Eagle

- Last updated on GMT

Stora Enso to divest its Barcelona mill for €10m

Related tags Stora enso Investment

Stora Enso has signed an agreement to divest its Barcelona mill, in Spain, which produces recycled-fibre based consumer board, to the private equity fund Quantum for €10m.

The deal is expected to be completed in the fourth quarter of 2015, subject to regulatory approvals.
Stora Enso is focusing its consumer board offering on high quality virgin-fibre products. The Barcelona mill is the only recycled-fibre based mill in our Consumer Board division​,” said Jari Latvanen, head of the Consumer Board division, Stora Enso.

Despite positive results development in recent months, the Barcelona mill requires further development effort and investment if it is to remain on a profitable path. The mill can operate more efficiently under the new ownership​.”

Based on the annual figures for 2014, the divestment is expected to reduce Stora Enso’s annual sales by €117m and simultaneously decrease Stora Enso’s annual board production capacity by approximately 195 000 tonnes.

The Barcelona mill employs approximately 220 people.

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