Stora Enso Oyj Press Release 18 January 2005 at 12:00 GMT
Stora Enso is in negotiations to acquire a
leading French paper merchant, Papeteries de France (PdF), from
International Paper. PdF, which has net sales of about EUR 160 million
from a sales volume of some 160 000 tonnes of paper, would become
part of the Stora Enso Merchants division, Papyrus. PdF has about 220
employees, all of whom are located in France.
The acquisition is expected to be closed at
the end of March 2005, subject to formal processes and approval by
regulatory authorities. The financial terms of the proposed transaction
will be disclosed following signing of a definitive agreement, which is
expected to take place in February.
The planned acquisition of PdF is a further
step in strengthening the Papyrus presence in France and Western Europe.
Papyrus is a wholly owned paper merchanting
subsidiary of Stora Enso with annual sales of about EUR 740 million.
Papyrus holds a leading position in the Nordic countries and a strong
market position in Western Europe. Papyrus currently has a presence in
thirteen European markets, including operations in France with net sales
of some EUR 100 million and about 135 employees.
Last updated 16.12.2004