Events after the balance sheet date
In January the paper manufacturer Feldmuehle Uetersen GmbH filed for insolvency. Uetersen mill was owned by Stora Enso until 2015. At year end 2017 Stora Enso had open receivables from Feldmuehle Uetersen amounting to EUR 9 million. In case Uetersen mill will be discontinued, Stora Enso has contractual obligation to cover the costs of possible environmental remediation.
The divestment of the Consumer Board sheeting centre business in Baienfurt, Germany to Pyroll, a Finnish converting firm was completed in January 2018. The transaction had no significant impact on the Group.
On 26 January 2018, a Swedish prosecutor initiated proceedings in a District court claiming that Stora Enso and a contractor due to negligence had caused the forest fire in Västmanland in 2014. Further, the prosecutor request that Stora Enso and the contractor pay SEK 5 million (EUR 0.5 million) each in corporate fines. Stora Enso denies liability and disputes the claim.