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Stora Enso Divests Mill Real Estate in Germany

Helsinki, Finland, 24 August 2010 -- Stora Enso Baienfurt GmbH has signed an agreement to divest its Baienfurt mill site real estate in Germany. The buyer is the IGV Industrie-Gewerbeverwaltungs GmbH, a subsidiary of the Lower Bavarian Karl-Gruppe, which specializes in acquiring and restructuring industrial sites. The transaction includes the land and buildings of the former Baienfurt cartonboard mill, except the sheeting center 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 nonrecurring 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 using the 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 metric tons of folding boxboard.


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