Helsinki, Finland 10 November 2016 -- Following its announcement in September 2016, Stora Enso has finalised the co-determination negotiations regarding the consolidation of manufacturing of corrugated packaging in Finland. Stora Enso's corrugated packaging plant in Heinola will be closed permanently and packaging manufacturing transferred to the Lahti plant. The need for personnel reduction is expected to be 47 employees.

As part of the consolidation, Stora Enso will invest approximately EUR 19 million in new machinery and supporting infrastructure in Lahti. The project is expected to be finalised by the end of the first quarter 2018. The objective is to improve profitability and competitiveness by creating a centre of excellence for corrugated packaging in Lahti. Currently, Stora Enso employs approximately 420 people in its containerboard and corrugated packaging businesses in the Lahti-Heinola region.

Stora Enso will make every effort in co-operation with the local community to help the affected personnel find new employment opportunities, and all job openings in other Stora Enso units will be available to those affected. The corrugated packaging production at the Kristiinankaupunki and containerboard production at the Heinola Fluting Mill will not be affected.

Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wooden constructions and paper on global markets. Our aim is to replace fossil based materials by innovating and developing new products and services based on wood and other renewable materials. We employ some 26 000 people in more than 35 countries, and our sales in 2015 were EUR 10.0 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY) on the International OTCQX over-the-counter market.