Wednesday, November 1, 2017 1:00 pm

HELSINKI (News release) -- Stora Enso has divested 100% of its shares in the Finnish Puumerkki Oy and the Estonian Puumerkki AS to Mimir Invest AB, a global investment firm. Puumerkki is a specialised wholesaler of wooden building materials and was 100% owned by Stora Enso.

Puumerkki's wholesale business does not belong to Stora Enso's core business. The new owner is in a better position to give Puumerkki the attention it deserves and ensure its long-term development. Puumerkki will continue to be a key customer for Stora Enso's renewable building materials also going forward.

Puumerkki's sales in 2016 were approximately Euro 60 million, and it has approximately 170 employees. The transaction was finalised immediately, and it will have no significant impact on Stora Enso's operational EBIT or net debt. Stora Enso will book a loss of Euro 8 million in its operational EBIT in the fourth quarter of 2017 as an item affecting comparability (IAC).

Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wooden constructions and paper on global markets.

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