FINLAND (News release) -- Following the announcement of the Napi mill closure in June this year, Stora Enso has systematically ceased all ongoing operations at the site.

Now the company has signed an agreement to sell the sawmill, including the associated land and further processing machinery to Puidukoda, a local planed timber producer. The new owner will re-start operations on site with the intention to employ local residents to run the business.

'The decision to close Napi mill was one of several actions to improve Stora Enso Group's long-term competitiveness and profitability. We are very pleased to have come to an agreement with Puidukoda, who will give the mill the attention it deserves and ensure a long-term development of the business,' says Lars Volkel, EVP and Head of the Wood Products division at Stora Enso.

The transaction with Puidukoda includes all the land and buildings as well as the equipment related to wood processing, excluding the sawmill's machinery. The sawline and associated equipment will be sold to another buyer and the rest of the equipment from Napi site has been shipped to other Stora Enso sawmills.

'Napi Mill has been operating for more than 30 years, and we are pleased to witness the beginning of a new chapter for the site. The mill has played a significant role in the local community, now with the introduction of new employment opportunities, the area will have a positive outlook,' commented Anne-Liis Kapstas, former Napi Mill Director.

The primary purchaser Puidukoda is a wood processing company based on French capital, located in Karksi, Southern Estonia, established in 1997. The company specializes in manufacturing planed timber products and will start operations at the acquired site.

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