Sylvamo today completed the acquisition of Stora Enso’s uncoated freesheet paper mill in Nymölla, Sweden, for 150 million euros.
The integrated mill has two pulp lines and the capacity to produce approximately 500,000 short tons of uncoated freesheet on two paper machines. The mill produces several brands, including Multicopy, and paper used for office printing, business forms, digital printing, offset for printing books and much more.
“The Nymölla mill strengthens our uncoated freesheet product mix and enables us to serve customers across Europe and around the world more effectively,” said Jean-Michel Ribiéras, chairman and CEO of Sylvamo. “We’d like to welcome our new team members to the world’s paper company.”
Stora Enso’s divestment of the Nymölla mill is part of the company’s earlier announced plan to divest four of its five paper production sites.
Stora Enso said that its focus is on long-term growth potential for its renewable products in packaging, building solutions and biomaterials innovations.
Stora Enso noted that the divestment process continues for the remaining paper sites in Hylte and Anjala with no committed timeline for conclusion. The process has no immediate effect on Stora Enso’s paper operations which continue to serve their respective customers.
Sylvamo (NYSE: SLVM) is a global paper company with mills in Europe, Latin America and North America. Headquartered in Memphis, Tennessee, Sylvamo employs more than 7,500 people.
SOURCE: Sylvamo and Stora Enso