Stora appoints Iggesund CEO to head up consumer board division

Hannah Jordan and Max Goldbart
Tuesday, November 1, 2016

Stora Enso has appointed Annica Bresky, the current president of Sweden-based manufacturer Iggesund Paperboard, as executive vice-president of its consumer board division.

Bresky, who will start in the role on 1 May 2017 at the latest, will also become a member of Stora's group leadership team.

She is a former Stora employee, having held engineering and superintendent positions at Stora's Kvarnsveden Mill from 2001 to 2010.

Stora Enso chief executive Karl-Henrik Sundström said: "Annica Bresky is a perfect match for our opportunities in the consumer board division. Her extensive experience both in production and leadership positions forms a solid background for her to take one of our growth businesses into the future. I would like to welcome her back."

Sundström will be acting head of the consumer board division in the interm period before Bresky starts as Jari Latvanen, the former head of the division, has now started in the role as chief executive of Nordic meat exporter HKScan. 

Iggesund Paperboard, who Bresky has been with since 2010, is part of the Holmen Group and describes itself as Europe's third largest manufacturer of virgin fibre paperboard, with a market share of about 20%. 

Bresky's appointment to Stora follows the release of the Finnish group's 2016 Q3 results.

Stora posted sales of €2.4bn in Q3 2016 (Q3 2015: €2.5bn). Excluding its "structurally declining" paper business and divested Barcelona mill, this represents a 1.8% year-on-year increase.

The company cited ramp-ups at its Varkaus kraftliner and Beihai consumer board mills for the boost in sales.

Pre-tax profits were up 11.8% on the same period last year at €161m and operational EBIT was €219m (2015: €246m), including the impact of €35m costs relating to the ramp-up of its Beihai Mill, where the company has been working on its new liquid boards and CKB cartonboard products aimed at the food market. 

Sundström said: “Our transformation into a customer-focused renewable materials company is progressing well. I am pleased that the ramp-up of the Beihai Mill is ahead of plan and we are now conducting customer tests of liquid boards and other grades. 

Sundström added the forecast for fourth quarter sales and operational EDIT were around €2.4bn and €219m respectively.

Stora has also, along with fellow Finnish paperboard producer Metsa Board, become one of 193 companies to be placed on the 2016 Climate A list of not for profit organisation CDP (formerly Carbon Disclosure Project), recognising leaders in sustainability and emission reduction strategies. 

“Combatting global warming requires long-term efforts. Therefore Stora Enso has for over a decade been actively reducing the energy intensity of its operations and in many places also its dependency on fossil fuels,” said Stora’s executive vice president of sustainability, Noel Morrin.

“Today, over 75% of the energy the group generates and uses comes from carbon neutral sources inside and outside the company. It is our firm intention to drive down fossil fuel use even more over the next ten years to get as close to zero as possible using technically and commercially feasible means,” he added. 

CDP chief executive Paul Simpson said: “Companies are key actors in enabling the global economy to achieve its new climate goals, and the leadership of this group points the way for others to take bold action and capitalise on the many opportunities that await.”

In September, Stora announced plans to close its Heinola corrugated packaging plant in Finland. Consultation on the plans is due to end next week. 

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