Stora Enso Oyj - Company Announcement

Stora Enso acquires Fortum’s power plant and invests in renewable energy at Enocell Mill site

Helsinki, Finland, 2013-12-04 08:00 CET (GLOBE NEWSWIRE) -- STORA ENSO OYJ
STOCK EXCHANGE RELEASE 4 December 2013 at 9.00 EET 

Stora Enso Biomaterials Division's Enocell Pulp Mill's power plant will be
transferred from Fortum Power and Heat Oy to Stora Enso at approximately EUR 16
million in accordance with an existing finance lease agreement. Stora Enso has
approximately EUR 16 million short term finance lease liability specific to
this transaction in the September 2013 balance sheet. The Division will also
invest approximately EUR 13.5 million to increase use of renewable energy at
the mill. 

The power plant at the mill site owned by Fortum Power and Heat Oy will be
transferred to Stora Enso ownership on 31 December 2013. In 1990 Fortum Power
and Heat Oy (then called Imatran Voima Oy) bought the old power plant at the
mill site and built a new power plant there as part of a mill expansion
project. The new power plant comprises a 100 MW solid fuel bubbling bed boiler
and a 99 MW turbogenerator. The power plant uses bark from the pulp mill and
residues from forestry operations as fuel. Its annual power production capacity
is approximately 600 GWh, of which around 400 GWh is used by Stora Enso's
operations at the mill site. 

The day-to-day operations and maintenance of the plant are already undertaken
by employees of Stora Enso and the mill maintenance company Efora Oy, so no
personnel will be transferred in the change of ownership. 

“Transferring the power plant to Stora Enso's ownership will facilitate
development of operations as a whole,” says Stora Enso's Enocell Mill Manager
Sauli Purho. 

Investment to reduce carbon dioxide emissions and energy costs

The investment in renewable energy will enable about 85% of the fuel oil used
in its lime kiln to be replaced by sawdust. The investment is expected to
reduce the mill's annual fossil-based carbon dioxide emissions by 30 000 tonnes
and energy costs by EUR 5 million. The changes required to the mill processes
will be made during 2014. 

“We want to make the mill's energy balance more environmentally friendly. The
pulp mill is more than self-sufficient in energy, but purchased fuel is still
needed for the lime kiln. Through the investment Enocell Mill is taking a
significant step towards being a mill free of fossil fuels,” says Mill Manager
Sauli Purho. Most of the sawdust used will be supplied by Stora Enso's nearby
Uimaharju and Kitee sawmills. 


For further information, please contact:
Juan Bueno, EVP, Biomaterials Division, tel. +55 11 3065 5223
Ulla Paajanen-Sainio, SVP, Investor Relations, tel. +358 40 763 8767
Kirsi Seppäläinen, Head of Communications and Sustainability, Biomaterials
Division, tel. +358 400 786 659 

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

Stora Enso is the global rethinker of the paper, biomaterials, wood products
and packaging industry. We always rethink the old and expand to the new to
offer our customers innovative solutions based on renewable materials. Stora
Enso employs some 28 000 people worldwide, and our sales in 2012 amounted to
EUR 10.8 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) in the International OTCQX over-the-counter market. 

STORA ENSO OYJ