Stora Enso will have only four business divisions in future

Stora Enso has reduced the number of its business divisions from six to four with effect from 17 January 2012. The former Wood Products division has been renamed Building and Living and remains under the management of Executive Vice President (EVP) Hannu Kasurinen. The former business divisions Newsprint and Book Paper as well as Magazine Paper and Fine Paper have been integrated under the Printing and Reading umbrella. EVP Juha Vanhainen was appointed head of this division. The former Consumer Board and Industrial Packaging divisions merge to form the new Renewable Packaging division headed by EVP Mats Nordlander. Moreover, Stora Enso has created a new division, Biomaterials, which bundles the company's joint venture activities and stand alone pulpmills as well as the forest plantation activities. EVP Juan Bueno was appointed head of this new division. According to Stora Enso's CEO Jouko Karvinen the restructuring is to increase flexibility and minimise interdependences between the businesses in order to enable the company to respond faster to the changes in the economy.