Stora Enso to sell Komárom packaging plant to Van Genechten

Tuesday, Sep 01, 2015

Company says Komárom's customers base has seen major changes and plant is no longer strategic to Stora Enso.

Stora Enso is parting ways with the Komárom packaging plant in Hungary. The company announced it has signed an agreement to divest the site to Van Genechten Packaging . The initial cash consideration amounts to €12m, according to Stora Enso. The transaction is expected to close in September.

Approximately 90 people are employed at the offset printed micro-flute packaging facility in Komárom. The site had annual sales of €14m in 2014. Komárom is part of Stora Enso's Packaging Solutions division. The corrugated packaging converting capacity of the group is said to decrease by 15 million m² per year following the divestment of the site to Van Genechten.

Three years ago Stora Enso had closed the Páty corrugated packaging facility near Budapest and centralised its operations in Hungary to the Komárom site.

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