Stora Enso Oyj - Company Announcement

Arbitration case in Montes del Plata settled

Helsinki, Finland, 2015-04-28 15:40 CEST (GLOBE NEWSWIRE) -- STORA ENSO OYJ
STOCK EXCHANGE RELEASE 28 April 2015 at 16.40 EET 

In 2014, Celulosa y Energía Punta Pereira S.A. (“CEPP”), a joint operations
company in the Montes del Plata group formed by Stora Enso and Arauco, was
notified of arbitration proceedings initiated against it by Andritz Pulp
Technologies Punta Pereira S.A., a subsidiary of Andritz AG, claiming EUR 200
million. 

The claims related to contracts for major equipment that Andritz delivered to
the Montes del Plata Pulp Mill project. CEPP disputed the claims brought byAndritz and also actively pursued claims of its own amounting to USD 110 (EUR
91) million against Andritz for breach by Andritz of its obligations under the
contracts. Stora Enso has reported the item as contingent liability. No
provisions were made in Montes del Plata's or Stora Enso's accounts for these
claims and counterclaims. 


The parties have now signed a settlement agreement and will withdraw the case
from arbitration. The settlement agreement results in a USD 44 million (EUR 40
million) cash payment to be made by Montes del Plata of which Stora Enso's
share is 50%. The payment will be recorded as capital expenditure in the
Biomaterials segment in the second quarter of 2015. This settlement does not
have material impact on Stora Enso's earnings. 


For further information, please contact:
Ulla Paajanen-Sainio, SVP, Stora Enso Investor Relations, tel. +358 40 7638767

Kirsi Seppäläinen, Head of Communications, Stora Enso Biomaterials,
tel. +358 2046 21444

www.storaenso.com
www.storaenso.com/investors



Stora Enso is a leading provider of renewable solutions in packaging,
biomaterials, wood and paper on global markets. Our aim is to replace
non-renewable materials by innovating and developing new products and services
based on wood and other renewable materials. We employ some 27 000 people in
more than 35 countries, and our sales in 2014 were EUR 10.2 billion. Stora Enso
shares are listed on NASDAQ OMX Helsinki (STEAV, STERV) and Stockholm (STE A,
STE R). In addition, the shares are traded in the USA as ADRs (SEOAY) on the
International OTCQX over-the-counter market. 

STORA ENSO OYJ