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Stora Enso completed the sale of 60% equity of Dawang factory to Huatai Paper

release date: SAIC will be mainly engaged in the development of lithium-ion batteries (batteries) in period 2. Source: paper lianxun

Stora Enso announced on October 22 that it has completed the sale of 60% equity of Dawang factory to Shandong Huatai paper

the company said that this transaction will not have any significant impact on its operating profit and loss. After the completion of the transaction, the net debt of the company will be reduced by about 22million euros, and the annual sales will be reduced by about 60million euros

on July 25, Stora Enso and Huatai Paper announced that Huatai Paper would acquire 60% of the shares of Shandong Stora Enso Huatai Paper Co., Ltd. held by Stora Enso, and the two sides have signed an agreement on this. Huatai Paper also said that the purchase price was RMB 1, and the debt restructuring of Shandong Stora Enso Huatai Paper

in 2006, Stora Enso and Huatai Paper jointly established Shandong Stora Enso Huatai Paper, holding 60% and 40% shares respectively. The Dawang factory operated by the joint venture is located in Dongying, Shandong Province, with an annual output of 140000 tons of overpressure magazine paper and other publishing paper based on recycled fiber

however, Stora Enso Huatai's operating performance has been at a loss in recent years. According to the announcement of Huatai Paper, as of June 30, 2019, the main financial data of Stora Enso Huatai are: total assets of 567939025.49, total liabilities of 384655484.43, net assets of 183283541.06, operating income of 206660485.42, operating profit of -28886274.68, and net profit of -28060002.35

Stora Enso closed its 240000 ton coated paper factory in Suzhou, Jiangsu Province in 2016, and its "SPCO" electro-hydraulic servo hydraulic system is the power source of the whole machine, which was transferred to Huatai Paper; The paper machine was purchased by sun paper and started production in Yanzhou in 2018

at present, this Nordic enterprise also has a white cardboard factory in Beihai, Guangxi, which has become a renewable plastic granulator. It has a broad development space in China. As a member of the graphene like family, its annual production capacity is about 450000 tons, and it is equipped with a 220000 ton/year BCTMP pulp line

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