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Stora Enso Initiates Sales of Tolkkinen Sawmill Site
Helsinki, Finland, 10 February 2010 -- Stora Enso's search for new partners and new businesses for the site of the former Tolkkinen sawmill in Porvoo has progressed according to plan, and the first letters of intent for the Augustinranta business park have been signed. Stora Enso is selling the site of the former sawmill buildings and marina area to the north to an enterprise established by Stefan Svanljung and Jukka Jaatinen, and the deepwater harbor area to Prima Shipping Oy of Porvoo. In addition, negotiations concerning biofuel operations, a national oil spill prevention center, and companies providing security and maintenance services are in progress. The letters of intent signed and under negotiation total nearly EUR 7 million. Stora Enso will not disclose the value of individual deals.

“The sales process has gone very well and already meets our expectations. When one door closed at the end of 2009, many new doors certainly opened,” said Matti Karjula, Stora Enso real estate directo, rwho has been handling the sales.

Stora Enso's aim of creating 50 new jobs at the site will be achieved through the corporate arrangements now made, but the number of new jobs is expected to be as much as double this. The enterprise established by Stefan Svanljung and Jukka Jaatinen will create employment for about 20 people. Prima Shipping will create employment for about 20 people initially and as many as 45 people within three years. According to preliminary estimates, the operations planned for the sawmill site will employ about 20 people in total.

Stora Enso still owns the old pulp mill at the site. A separate refurbishment plan is being prepared for the building, and it is intended that the building, which has considerable architectural merit, may in future house an atelier and office premises. The refurbishment work and search for new uses are being undertaken jointly with Porvoo Museum.

“We were seeking partners to develop the site with businesses that can utilize the logistics potential of the marine environment and support each other synergistically. Work to develop the area certainly does not stop with these objectives, it will continue in close co-operation with the new and future businesses,” Karjula said.

Stora Enso is a world leader in forest industry sustainability. The company offers solutions based on renewable raw materials. Its products provide a climate-friendly alternative to many nonrenewable materials, and have a smaller carbon footprint. Stora Enso is listed in the Dow Jones Sustainability Index and the FTSE4Good Index. Stora Enso employs some 27 000 people worldwide; sales in 2009 amounted to EUR 8.9 billion. Stora Enso shares are listed on NASDAQ OMX Helsinki (STEAV, STERV) and Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY) in the International OTCQX over-the-counter market.

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