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Stora Enso to Acquire Majority of Chinese Packaging Company Inpac International
Helsinki, Finland, 27 October 2010 -- Stora Enso has signed an agreement to acquire 51% of the Chinese packaging company Inpac International, which has production operations in China and India, and service operations in Korea. Inpac specializes in manufacturing consumer packaging, especially for global manufacturers of mobile phones and other consumer goods. The enterprise value of the company is EUR 82 million. In 2009, Inpac's sales were EUR 82 million and EBITDA was EUR 16 million.

“This joint venture is an important step on the path to our future offering strong synergies with our existing Stora Enso consumer packaging businesses in Europe. This step supports our effort to become a market and consumer need driven renewable materials company - with access to the two fastest-growing consumer packaging markets globally,” said Jouko Karvinen, Stora Enso CEO.

“We believe that this acquisition provides an excellent opportunity to enhance our presence in China and India, and strengthen our existing relationships with customers and brand owners by supplying packaging directly to them in these markets, as well as Europe,” said Mats Nordlander, Stora Enso executive vice president, Packaging and Asia Pacific.

“We are very pleased to be joining forces with Stora Enso. By combining our skills and knowledge through this partnership, we can continue to develop this packaging company further and serve global brand owners with innovative packaging solutions,” said Guo Cai, Inpac Chairman.

Stora Enso's annual operating profit is expected to be enhanced by EUR 11 million. The all-cash acquisition is expected to be closed within six months, subject to approval by regulatory and competition authorities, and other customary closing conditions.

Inpac International is a leading packaging supplier to the mobile phone industry in the Asia-Pacific region. Inpac International Print & Packaging Co., Ltd. was founded in 1998 and has become an international group that provides innovative packaging solutions to its customers. Inpac has some 3100 employees. Its headquarters are at Qian'an, Hebei Province, in northern China, and it has subsidiaries in Hebei, Beijing, Dongguan, India, and Korea. For additional information, visit www.inpac.com.cn.

Stora Enso is a global paper, packaging and wood products company producing newsprint and book paper, magazine paper, fine paper, consumer board, industrial packaging, and wood products. The Group is the world leader in forest industry sustainability. Stora Enso is listed in the Dow Jones Sustainability Index and the FTSE4Good Index. Stora Enso employs some 27,000 people worldwide, and had sales in 2009 totaling 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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