Efora and Stora Enso

Helsinki, Finland, 2013-09-16 08:00 CEST (GLOBE NEWSWIRE) -- Stora Enso has agreed to redeem ABB’s 49% shareholding in Efora Oy on 31 October 2013 and become the sole owner of the company. The transaction is subject to approval from the Finnish Competition and Consumer Authority. Efora, established in 2009, is a joint-venture company owned by Stora Enso (51%) and ABB (49%) providing maintenance services at Stora Enso’s Heinola, Imatra, Oulu, Uimaharju, Varkaus and Veitsiluoto mills in Finland. It employs about 1 000 people. Efora will remain responsible for the maintenance operations at Stora Enso’s mills after the change in ownership. Stora Enso is examining various options for Efora’s future ownership