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Stora Enso divests Finnish packaging machine producer Formeca

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Stora Enso divests Finnish packaging machine producer Formeca

January 05, 2017 - 01:08

BRUSSELS, Jan. 5, 2017 (PPI Europe) -Stora Enso has sold its 100% share in its Finnish subsidiary Formeca to Finnish specialized engineering and machine construction firm Amitec. The value of the deal was not disclosed.

Upon completion of the deal, Stora Enso will become a reseller of Formeca machines and will continue to support and consult customers on packaging automation solutions, Stora Enso said in a statement.

Some employees will be transferred from Formeca to Stora Enso to strengthen packaging automation support for the customers, while the rest of the Formeca personnel will stay at the firm.