Forestry giant Stora Enso to relocate

Jukka Härmäla, chief executive of forestry giant Stora Enso, says that the company is to transfer its pulp production to South America, Japan and possibly Russia.

The paper producer also intends to expand its presence in China, building up its holding of forestland, and does not rule out the possibility of operating a pulp mill in China within a decade.

Oriflame factory gets Russian go-ahead

Oriflame says that it has received permission to build its factory in Russia and that work will begin on the plant in the first quarter.

BAE sells Saab stock

British BAE Systems has sold 13.2 million shares in the Saab defence group for some 1.5 billion kronor. BAE is to reduce its holding in Saab from 35 per cent to 20 per cent.

Sources: Dagens Nyheter, Svenska Dagbladet, Dagens Industri


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