Stora Enso to divest its Kabel Mill in Germany
“Kabel Mill has an excellent reputation and an established customer base in the grades it produces. We believe that Kabel Mill will be able to further develop its business under the new ownership,” says Kati ter Horst, EVP Paper division at Stora Enso.
Based on 2015 annual figures, the divestment is expected to reduce Stora Enso’s annual sales by approximately EUR 300 million. It will also reduce Stora Enso’s annual paper production capacity by around 485 000 tonnes. Kabel Mill employs approximately 540 people, who will be transferred to the new owner with the divestment. The transaction will not have a material impact on Stora Enso’s operational EBIT going forward.
Stora Enso will continue to produce coated mechanical paper under the NovaPress brand at its Veitsiluoto Mill in Finland.
About Hagen-Kabel Pulp & Paper GmbH
Hagen-Kabel Pulp & Paper GmbH is a newly-established company owned by a German investor group with experience in the paper industry. One of the investors, Kübler & Niethammer Papierfabrik Kriebstein AG (“K&N”), produces graphical paper with a capacity of approximately 100 000 tonnes per year and recycled paper as raw material. The investor group has stated that it aims to develop the Kabel Mill and focus further on high quality customer service.
Abbildung: Grafische Papiere