STORA ENSO OYJ INVESTOR NEWS 11 July 2024 at 14:00 EET
HELSINKI, July 11, 2024 /PRNewswire/ — Stora Enso has signed a untouched EUR 435 million bilateral mortgage with the Eu Funding Reserve (EIB) to backup the its enlargement in renewable, fiber-based shopper packaging board.
Stora Enso’s EUR 1 billion funding in its Oulu mill in Finland is being financed, partly, by means of a untouched long-term bilateral mortgage. The mortgage options an amortising construction, with the overall compensation expected in 2036, successfully lengthening the Crew’s debt adulthood profile. The mill, which is predicted to start out operations with a book, transformed shopper board manufacturing sequence within the first part of 2025, might be one of the vital trendy and cost-efficient manufacturing websites for packaging fabrics in Europe.
“The investment in Oulu supports our growth strategy in renewable, circular packaging by providing new volume for the growing packaging segment. The wood fiber is sourced from sustainably managed forests in the Nordics, and the boards are designed to replace plastics in food and personal care packaging,” says Hannu Kasurinen, Govt Vice President, Packaging Fabrics Category.
“This new loan with EIB will not only provide us with financial flexibility, but it also underscores our commitment to sustainable, profitable growth. Securing access to long-term capital from a variety of sources is a pivotal element of our strategy, as it enables us to invest in new growth opportunities,” says Kaarlo Höysniemi, SVP Crew Treasury.
Learn extra about Stora Enso’s financing actions at storaenso.com.
Concerning the EIB
The Eu Funding Reserve (EIB) is a long-term lending establishment of the Eu Union, owned by means of its Member States. It budget tone investments that give a contribution to EU coverage targets.The EIB tasks bolster competitiveness, force innovation, advertise sustainable building, support social and territorial concord, and backup a simply and rapid transition to situation neutrality.
For additional knowledge, please touch:
Kaarlo Höysniemi
SVP Crew Treasury
tel. +358 400 251 179
Investor enquiries:
Anna-Lena Åström
SVP Investor Family members
tel. +46 70 210 7691
A part of the worldwide bioeconomy, Stora Enso is a prominent supplier of renewable merchandise in packaging, biomaterials and picket building, and some of the greatest personal jungle homeowners on the planet. We build worth with our low-carbon and recyclable fiber-based merchandise, wherein we backup our shoppers in assembly the call for for renewable sustainable merchandise. Stora Enso has roughly 20,000 workers and our gross sales in 2023 have been EUR 9.4 billion. Stora Enso stocks are indexed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R). As well as, the stocks are traded in OTC Markets (OTCQX) within the USA as ADRs and usual stocks (SEOAY, SEOFF, SEOJF). storaenso.com/investors
STORA ENSO OYJ
For additional knowledge, please touch:
Kaarlo Höysniemi
SVP Crew Treasury
tel. +358 400 251 179
Investor enquiries:
Anna-Lena Åström
SVP Investor Family members
tel. +46 70 210 7691
This knowledge used to be dropped at you by means of Cision http://news.cision.com
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