24.02.05

24.2.2005: Meldung: Stora Enso proceeds with Papeteries de France acquisition

Stora Enso and International Paper have signed a definitive agreement concerning Stora Enso"s previously announced acquisition of the French paper merchant Papeteries de France (PdF) from International Paper. The transaction is expected to be closed at the end of March 2005, subject to formal processes and approval by regulatory authorities. The debt free transaction value is estimated to EUR 18 million.

PdF will become part of the Stora Enso Merchants division, Papyrus. The acquisition is a further step in strengthening the Papyrus presence in France and Western Europe.

Following the acquisition, Papyrus will become the second-biggest paper merchant in France, with annual sales of about EUR 260 million and 345 employees. The annual sales volume in France is some 260 000
tonnes of fine paper.

"As a customer interface for the Group, our merchant business Papyrus is an important component of Stora Enso"s value chain and takes us one step closer to the customer. Papyrus provides us vital insight into the customer"s business and helps us better understand the end-users" needs," says Kai Korhonen, Senior Executive Vice President, Stora Enso Paper.

"Papyrus"s strategy is to be a leading player in the markets and segments where it operates. This acquisition will clearly help us achieve this objective in France and therefore Western Europe. We believe that by creating a stronger position we can serve our customers better and generate improved financial returns," says Mats Nordlander, President of Papyrus.


For further information, please contact:
Kai Korhonen, Senior Executive Vice President, Stora Enso Paper, tel.+44 20 7016 3162
Mats Nordlander, President of Papyrus, tel. +46 70 337 08 90 or +46 31 67 06 03
Kari Vainio, Executive Vice President, Corporate Communications, tel.+44 7799 348 197
Keith B Russell, Senior Vice President, Investor Relations, tel. +44 7775 788 659


Papyrus is a wholly-owned paper merchanting subsidiary of Stora Enso with annual sales in 2004 of EUR 640 million. Papyrus holds a leading position in the Nordic countries and a strong market position in Western Europe. Papyrus currently has a presence in thirteen European markets, including operations in France with net sales in 2004 of some EUR 100 million and about 135 employees.

Stora Enso is an integrated paper, packaging and forest products company producing publication and fine papers, packaging boards and wood products, areas in which the Group is a global market leader. Stora Enso sales totalled EUR 12.4 billion in 2004. The Group has some 45 000 employees in more than 40 countries in five continents and about 16.4 million tonnes of paper and board annual production capacity and 7.7 million m3 of sawn wood products, including 3.2 million m3 of value-added products. Stora Enso"s shares are listed in
Helsinki, Stockholm and New York.
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