Stora Enso to divest Puumerkki, a wholesaler of wooden building materials

Stora Enso has divested 100% of its shares in the Finnish Puumerkki Oy and the Estonian Puumerkki AS to Mimir Invest AB, a global investment firm. Puumerkki is a specialised wholesaler of wooden building materials and was 100% owned by Stora Enso.

This divestment supports Stora Enso’s Wood Products division in focusing on its growth strategy and further build on the strength of the premium portfolio of products and services. Puumerkki’s wholesale business does not belong to Stora Enso’s core business. The new owner is in a better position to give Puumerkki the attention it deserves and ensure its long-term development. Puumerkki will continue to be a key customer for Stora Enso’s renewable building materials also going forward.

Puumerkki’s sales in 2016 were approximately EUR 160 million, and it has approximately 170 employees. The transaction was finalised immediately, and it will have no significant impact on Stora Enso’s operational EBIT or net debt. Stora Enso will book a loss of EUR 8 million in its operational EBIT in the fourth quarter of 2017 as an item affecting comparability (IAC).
http://www.storaenso.com/news-and-media/Pages/Pressreleases.aspx?newsid=E2595BADC9E03D3E

Related Posts

Potential buyers run rule over CVG (printweek.com)

A number of interested parties have visited Crown Van Gelder sparking hopes that the mill could be rescued and restart production in the near future. The Netherlands-based papermaker, best known for its Crown Letsgo range of high-speed inkjet papers, filed for bankruptcy last week after running out of cash. A source close to the situation said they were hopeful for a speedy resolution: “For the time being the [paper] machines are not running but hopefully we can be up and running again soon – this is a very good company and we will restart.”

Catalyst Paper: Regarding CVD & AD Surcharge

In the near future, certain uncoated groundwood paper products imported into the United States from Canada may be subjected to U.S. countervailing (CVD) and/or anti-dumping (AD) duties. These duties arise from petitions made by North Pacific Paper Company (NORPAC), a U.S.-based pulp and paper manufacturer, to the U.S. Department of Commerce and the U.S. International Trade Commission that allege Canada’s UGW paper exports are unfairly priced and/or that Canadian federal and provincial governments subsidize domestic producers – including Catalyst – thereby placing U.S. manufacturers of uncoated groundwood paper at an unfair disadvantage. I am writing to advise that Catalyst intends to implement price surcharges on our uncoated groundwood paper products we import into the USA that are subject to these CVD and AD duties. These surcharges will directly mirror the charges imposed on Catalyst by the U.S. Government. We will inform you of the level of Surcharge as soon as it becomes available. Click Read More below for additional information.
Back To Top
×Close search
Search