Sylvamo Acquires Nymölla Mill

Rhea-AI Summary

Sylvamo (NYSE: SLVM) has finalized the acquisition of Stora Enso's uncoated freesheet paper mill in Nymölla, Sweden, for 150 million euros. This mill enhances Sylvamo's product mix, allowing improved service across Europe and global markets. With a production capacity of 500,000 short tons annually, the facility produces various brands, including Multicopy. Notably, the mill operates with a strong environmental focus, generating 85% of its energy needs from carbon-neutral biomass. CEO Jean-Michel Ribiéras heralds this as a significant step towards sustainable growth.

Positive

• Acquisition strengthens uncoated freesheet product mix.
• Improves customer service capabilities in Europe and globally.
• Nymölla mill has a production capacity of 500,000 short tons.
• Mill operates sustainably, using 85% carbon-neutral energy.

Negative

• None.

MEMPHIS, Tenn.--(BUSINESS WIRE)-- Sylvamo (NYSE: SLVM), the world’s paper company, closed an agreement Monday acquiring Stora Enso’s uncoated freesheet paper mill in Nymölla, Sweden, for 150 million euros. The mill, strong brands it produces and team members who operate and support the facility are now officially part of Sylvamo.

“The Nymölla mill strengthens our uncoated freesheet product mix and enables us to serve customers across Europe and around the world more effectively,” said Jean-Michel Ribiéras, chairman and chief executive officer. “We’d like to welcome our new team members to the world’s paper company.”

The integrated mill has two pulp lines and the capacity to produce approximately 500,000 short tons of uncoated freesheet on two paper machines. The mill produces several brands, including Multicopy, and paper used for office printing, business forms, digital printing, offset for printing books and much more.

“I’d like to welcome Sylvamo to Skåne Iän as the mill becomes a part of the world’s paper company. We look forward to a long lasting and prosperous relationship for years to come,” said Michael Lindemann, manager, Nymölla Mill.

The Nymölla mill has an excellent environmental footprint, which complements Sylvamo’s purpose to produce paper in the most responsible and sustainable ways. The low-cost mill generates 85% of its energy needs from carbon-neutral, renewable biomass residuals.

About Sylvamo

Sylvamo (NYSE: SLVM) is the world’s paper company with mills in Europe, Latin America and North America. Our vision is to be the employer, supplier and investment of choice. We transform renewable resources into papers that people depend on for education, communication and entertainment. Headquartered in Memphis, Tennessee, we employ more than 6,000 colleagues. Net sales for 2021 were $2.8 billion. For more information, please visit Sylvamo.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230102005037/en/

Sylvamo Global:

Adam Ghassemi

+1-901-519-8115

adam.ghassemi@sylvamo.com

Source: Sylvamo

FAQ

What is the significance of Sylvamo's acquisition of the Nymölla mill?

The acquisition strengthens Sylvamo's uncoated freesheet product mix and expands its market reach in Europe and globally.

How much did Sylvamo pay for the Nymölla mill?

Sylvamo acquired the Nymölla mill for 150 million euros.

What is the production capacity of the Nymölla mill?

The Nymölla mill has a production capacity of approximately 500,000 short tons annually.

How does the Nymölla mill contribute to sustainability?

The mill generates 85% of its energy from carbon-neutral, renewable biomass, aligning with Sylvamo's sustainability goals.

When was the acquisition of the Nymölla mill completed?

The acquisition of the Nymölla mill was completed on Monday, as per the press release.