Stora Enso signed a letter of intent to buy Tetra Pak's Forshaga packaging material production unit in Sweden. Tetra Pak intends to transfer production of semi-finished material from Forshaga to its plant in Singapore.
Stora Enso will change Forshaga's product line to mainly PE-coating of gable top liquid packaging board. Stora Enso will be offering employment to about a hundred of Forshaga's current 240 employees. The acquisition supports Stora Enso's product strategy and will increase Stora Enso's PE coating capacity from 350,000 metric tons to 500,000 metric tons per year. The transaction is expected to be complete by June 30, 2001.
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