Stora Enso signed an agreement to divest the business and assets of its Swedish subsidiary Stora Enso Re-board AB to Culas AB.
July 5, 2017
Stora Enso has today signed an agreement to divest the business and assets of its Swedish subsidiary Stora Enso Re-board AB, a producer of rigid paperboard for expositions and displays, to Culas AB, which is partially owned by the current managing director of Stora Enso Re-board AB, John-Åke Svensson.
“Stora Enso’s focus within packaging is on developing and delivering fibre-based solutions throughout the value chain. Re-board delivers a niche product and we believe that a new owner can better give this business the attention it deserves and develop it further,” says Peter Torstensson, SVP and Head of Corrugated Nordics, Stora Enso’s Packaging Solutions division.
The transaction is expected to be closed during Q3/2017 and will have no significant impact on Stora Enso sales and operational EBIT. The transaction is subject to negotiations under the Swedish Co-determination Act (MBL). Once the divestment is completed, the employees of Stora Enso Re-board AB will be offered to transfer to the new owner.