Stora Enso has completed the divestment of its Nymölla paper production site in Sweden, and all related assets to Sylvamo, a US-based global producer of uncoated paper. The divestment announced on 15 September 2022 was closed today after regulatory approvals. The enterprise value of the transaction is approximately EUR 150 million. The Nymölla site’s capacity is 485,000 metric tonnes of woodfree uncoated office papers, with Multicopy as the leading paper brand. Based on the 2021 figures, the divestment is expected to reduce Stora Enso’s annual sales by approximately EUR 290 million. Subject to closing date adjustments, Stora Enso will book a one-time disposal loss of approximately EUR 25 million (including currency translation adjustments) in its IFRS operating profit in the first quarter of 2023, as an item affecting comparability.

Rayonier Advanced Materials Inc. announced the introduction of a second generation (2G) bioethanol product for Europe’s fast-growing biofuels market. Produced using wood-based feedstock (not in competition with food), RYAM will be among the first in France to produce 2G bioethanol fuel from wood. With a ninety percent smaller carbon footprint compared to fossil fuel-based gasoline, RYAM’s bioethanol product will help petrochemical companies meet their need for clean and renewable energy in the European market and contribute to reduced climate change. “With the successful development of second-generation bioethanol products, RYAM is taking an important step toward achieving our BioFuture and promoting a more sustainable world,” said Vito Consiglio, President and CEO of Rayonier Advanced Materials. “The strong demand for this innovative, renewable biofuel represents another example of how we can leverage our existing biorefineries and knowledge of cellulose chemistry to provide biobased solutions.”

Koehler has joined the World BioEconomy Circle, a communication platform for stakeholders who have dedicated themselves to the subject of the bioeconomy. The objective of the BioEconomy Circle is to enable discussion of and improve on the latest developments, ideas, and visions in the circular bioeconomy, and to facilitate mutual learning. The BioEconomy Circle has grown substantially since it was introduced by the World BioEconomy Forum™, which was founded in 2018 by Jukka Kantola. The forum brings together a global community of stakeholders, who can use the platform to find out about a broad range of events and other activities in the field of the bioeconomy. It was set up in response to the increasing importance of this field.