Ahlstrom has entered into an agreement to divest its Stenay plant in France to Accursia Capital, following the announcement of Accursia Capital’s binding offer in July. The divestment was confirmed after receiving endorsement from the site’s employee representatives. The transaction is expected to be completed by the end of September. "We are delighted to announce this positive outcome for the future of our Stenay plant, its employees and the community of Stenay. This would not have been possible without the role of our team on site and the collaboration of all stakeholders. A new chapter in the plant's history starts now with Accursia Capital,” says Mark Ushpol, EVP, Food and Consumer Packaging division. "This acquisition is part of a long-term investment strategy aimed at making Stenay a leading player in the highly competitive paper-based packaging market. We therefore look forward to developing the business of the Stenay site in collaboration with the employees," says Martin Scheiblegger, Managing Director of Accursia Capital.

Total packaging papers & specialty packaging shipments in June increased 7% compared to June 2023. They were up 10% when compared to the same six months of 2023. The operating rate for unbleached packaging papers was 82.9%, up 1.1 points from June 2023 and up 4.5 points year-to-date. Shipments of the biggest subgrade in bleached packaging papers – food wrapping – were 25,500 short tons for the month of June, up 6.3% from the same month last year and down 0.9% year-to-date.

Stora Enso has decided to discontinue the divestment process for its Beihai packaging board production site and forestry business, announced in December 2022. Stora Enso is of the view that the value in own use of the assets exceeds the achievable transaction value, and has therefore chosen to retain these operations within the Group. Stora Enso’s strategic ambition is to build on its global leading position in the fiber-based packaging market. The business of the Beihai site will be developed through a continued focus on operational excellence, cost optimisation, and product development. By adjusting the product mix to increase the share of liquid packaging board and other premium grades, the Beihai site will strengthen Stora Enso’s leading position as a global supplier. No significant capital expenditure is expected in the mid-term.