28 June 2021
Stora Enso has signed an agreement to divest its Sachsen Mill located in Eilenburg, Germany, to the Swiss-based family-owned company Model Group. The Sachsen mill has an annual production capacity of 310 000 tonnes of newsprint specialty paper based on recycled paper.
Under the agreement, Model Group will own and operate Sachsen mill after the transaction is closed. Stora Enso will continue to sell and distribute Sachsen’s paper products under a contract manufacturing agreement for a period of 18 months after the closing. After that period, Model will convert the mill to the production of containerboard. All 230 employees at Sachsen mill will move to the Model Group with the transaction.
«We believe Model will be a good owner to ensure long-term development of the Sachsen mill. We will continue to serve our customers with high quality paper products from Sachsen Mill at least until the end of 2022» says Kati ter Horst, EVP of Stora Enso’s Paper division.
Post time: Jul-28-2021