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Stora Enso Invests to Increase Competitiveness

Helsinki, Finland 29 August 2016 -- Stora Enso is investing a total of EUR 6.6 million in the corrugated packaging business in Sweden. The aim is to strengthen competitiveness and to improve printing quality and service to customers. The investment encompasses a new corrugated cutting machine with high-quality printing in the Jönköping factory, and a smaller upgrade of the cutting system in the Skene factory.

Implementation will begin in the first quarter of 2017 in both Jönköping and Skene. In May 2017, the investment is expected to be in operation.

"Market demand for efficiently produced packaging with high-quality printing is constantly growing. This investment ensures that we also in the future can be in the forefront when it comes our customer offering," says Peter Torstensson, Head of Corrugated Nordics, Division Packaging Solutions.

The investment will lead to increased production efficiency which in turn will result in staff redundancies. Negotiations with the unions about the redundancies will commence shortly.

Stora Enso has corrugated packaging production at three locations in Sweden: Jönköping, Skene and Vikingstad. There are a total of about 400 employees at the three factories. Approximately one million corrugated boxes are produced daily.

Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wooden constructions and paper on global markets. Our aim is to replace fossil based materials by innovating and developing new products and services based on wood and other renewable materials. We employ some 26 000 people in more than 35 countries, and our sales in 2015 were EUR 10.0 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY) on the International OTCQX over-the-counter market. storaenso.com


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