Stora Enso Concludes Acquisition of the Majority of Packaging Company Inpac International in China and India
Helsinki, Finland, Jul 28, 2011 - Stora Enso has completed the acquisition of 51% of the Chinese packaging company Inpac International as announced on 27 October 2010. The enterprise value of the company is EUR 80 million. Stora Enso will also purchase the production plant site and buildings at Qian’an in northern China for approximately EUR 13 million.
Following the acquisition, the new Inpac business unit will be reported as part of Stora Enso’s Industrial Packaging segment results from the third quarter of 2011 onwards.
Stora Enso is the global rethinker of the packaging, paper and wood products industry. We always rethink the old and expand to the new to offer our customers innovative solutions based on renewable materials. Stora Enso employs some 26 000 people worldwide, and our sales in 2010 amounted to EUR 10.3 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.