Stora Enso has signed an agreement to divest its Maxau paper site to Schwarz Produktion
Stora Enso has signed an agreement to divest its Maxau paper production site in Germany, and all related assets to Schwarz Produktion, part of Schwarz Group, one of the top retailers in the world. The enterprise value is approximately EUR 210 million. Closing is expected in the beginning of 2023, at the latest, subject to regulatory approvals. This transaction is part of the earlier announced plan to divest four of Stora Enso’s five paper production sites. In line with its strategy, Stora Enso’s focus is on long-term growth potential for its renewable products in packaging, building solutions and biomaterials innovations. Schwarz Produktion is expected to assume ownership for the Maxau site in the beginning of 2023. Schwarz’s plan is to continue paper production at the site, and the 440 employees belonging to the mill organisation at Maxau will be part of the transaction. Stora Enso will continue to operate the Maxau site and serve its supercalendered paper (SC) customers until the closing of the transaction.