Business News

Stora Enso enhances its product portfolio in Wood Products

Monday 24. May 2010 - Stora Enso is enhancing the product portfolio of its Wood Products Business Area by signing a contract to acquire a 19.46% shareholding in the Finnish wood processor Arktos Group.

The deal will add glue-laminated wood products of a new type to Stora Enso’s
product portfolio. In addition to developing business operations, Stora Enso
continues wood sourcing with Arktos and provides a sales channel for certain
Arktos products. The investment also includes an agreement to begin co-operation
in, among other things, wood glue-laminate technology and maintenance and spare
parts projects.

“We strongly believe closer co-operation with Arktos Group will enhance Stora
Enso’s current product portfolio, and also further increase co-operation between
us in wood supply and product development,” says Hannu Kasurinen, EVP, Stora
Enso Wood Products.

In 2008 Stora Enso sold part of the Kemijärvi Mill real estate to Arktos Group
(formerly Anaika Group) to enable it to start an engineering works and high
quality gluelam beam operations at the mill site. In full production, Arktos
Group’s Kemijärvi operations will employ about 100 people directly and provide
substantial indirect employment in the region.