Business News

Stora Enso divests real estate at Baienfurt in Germany

Wednesday 25. August 2010 - Stora Enso Baienfurt GmbH has signed an agreement to divest its Baienfurt mill site real estate in Germany.

Buyer is the IGV Industrie- und Gewerbeverwaltungs
GmbH, a subsidiary of the Lower Bavarian Karl- Gruppe, which specialises in
acquiring and restructuring industrial sites. The transaction includes the land
and buildings of the former Baienfurt cartonboard mill except the sheeting
centre and the board machine. Following the divestment, Stora Enso will release
approximately EUR 45 million of environmental and dismantling provision in the
third quarter of 2010 as a positive non-recurring item. The transaction is
expected to be completed by the end of the third quarter of 2010.

According to Karl-Gruppe’s current plans, the mill site will be developed as a
business/industrial park utilising existing buildings as well as erection of new
commercial properties. The site will no longer be used for cartonboard
production.

Cartonboard production at Baienfurt Mill ended in December 2008. Baienfurt Mill,
which was part of Stora Enso’s Consumer Board segment, had an annual capacity of
190 000 tonnes of folding boxboard.