Stora Enso has completed the sale of its KVH plant in Pfarrkirchen, Germany to the financial investor LEO II. – VV1 GmbH,, represented by the private equity company Dubag Group, previously announced on January 8, 2020.
As the company further announces, the production of construction solid wood (KVH) will be bundled in the Czech plant Ždírec in the future. The sale of the Pfarrkirchen plant has no material impact on Stora Enso's operating EBIT or net debt. The transaction will reduce Stora Enso's annual sales by approximately € 40 million and KVH's annual production capacity by approximately 145,000 m³.
Stora Enso is one of the world's leading providers of packaging, biomaterials, timber construction and paper and employs around 26,000 people in more than 30 countries. Revenue in 2019 was around € 10.1 billion.