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Stora Enso Subsidiary Corenso Strengthens UK Market Presence

Friday, May 04, 2001

Press release from the issuing company

Corenso (UK) Ltd, a British core and tube manufacturing company owned by Stora Enso's subsidiary Corenso United Oy Ltd, has acquired the British company Rollpack Ltd, which is located in Manchester. Rollpack produces some 6,000 tonnes of light cores, tubes and edge protectors a year and has annual sales of approximately EUR 5 million. Following this acquisition, Corenso UK has annual sales of EUR 28 million and 170 employees. John E. Reeves, Managing Director of Rollpack, has been appointed Managing Director of Corenso (UK) Ltd. Corenso United Oy Ltd is a Stora Enso Oyj subsidiary in which UPM-Kymmene Oyj has a 29% shareholding. Corenso owns and operates several coreboard mills and core factories in Europe and North America. Following this acquisition, Corenso United Oy Ltd has annual sales of EUR 210 million and 950 employees.




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