Stora Enso announced that Stora Enso has closed its previously announced acquisition of 66 percent ownership of the Polish packaging producer Intercell S.A. from private shareholders and the International Finance Corporation. The transaction was concluded following approval by regulatory authorities.
The acquisition is part of Stora Enso's strategy of expanding its Packaging Boards operations, and will strengthen its presence in the Polish market.
Jerzy Janowicz will remain managing director of Intercell. Pentti Huhta, senior vice president, Stora Enso Industrial Papers, will coordinate integration of Intercell into Stora Enso.
Intercell is one of Poland's biggest corrugated packaging companies, with integrated operations from waste paper collection to corrugated packaging production. The Company has three corrugated packaging plants in Poland, as well as one sack factory in Poland and one in Serbia. Intercell's paper and board mill at Ostroleka, Poland has an annual production capacity of about 250,000 metric tons of containerboard and sack and kraft paper.
Intercell also operates Poland's largest recycled paper collection business, which has an approximately 15 percent share of the market in Poland.
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