28 July 2011 — Stora Enso has completed the acquisition of 51% of the Chinese packaging company Inpac International as announced on 27 October 2010. The enterprise value of the company is EUR 80 million. Stora Enso will also purchase the production plant site and buildings at Qian'an in northern China for approximately EUR 13 million.
Following the acquisition, the new Inpac business unit will be reported as part of Stora Enso's Industrial Packaging segment results from the third quarter of 2011 onwards.
For further information, please contact:
Mats Nordlander, EVP, Packaging and Asia Pacific, tel. +46 1046 72703
Jonas Nordlund, Communications Director, tel. +46 1046 71663
A previous stock exchange release concerning the Inpac International acquisition is available at www.storaenso.com/press
-- 27 October 2010: Stora Enso to acquire majority of packaging company Inpac International in China and India
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Stora Enso is a global paper, packaging and wood products company producing newsprint and book paper, magazine paper, fine paper, consumer board, industrial packaging and wood products. The Group is the world leader in forest industry sustainability. We offer our customers solutions based on renewable raw materials. Our products provide a climate-friendly alternative to many non-renewable materials, and have a smaller carbon footprint. Stora Enso is listed in the Dow Jones Sustainability Index and the FTSE4Good Index. Stora Enso employs some 27 000 people worldwide, and our sales in 2009 amounted to EUR 8.9 billion. Stora Enso shares are listed on NASDAQ OMX Helsinki (STEAV, STERV) and Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY) in the International OTCQX over-the-counter market.
SOURCE: WorldPressOnline
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