Stora Enso increases ownership in Chinese subsidiary to 90 percent

Stora Enso Inpac Packaging offers fiber-based packaging for consumer products, including cartons and labels for telecommunications and electronics, food, pharmaceutical, cigarette and liquors, health products and cosmetics, with design, production, sales and R&D services. The company has production units in Qian’an, Dongguan and Jiashan in China, and sales offices in Beijing, Shanghai and Dongguan. It serves global and local brand owners.

Stora Enso said the transaction gives it a better opportunity to develop the Inpac Packaging business further and to execute its strategy in the region. The transaction will have no impact on the group’s sales or operating profit. The transaction is based on the terms of an option agreement dated October 2010. The cash consideration is approximately 46 million EUR (50 million USD). The transaction is subject to regulatory approval by Chinese authorities and is expected to be finalized during the first quarter of 2016.