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 Stora
Enso has set specific criteria for its merger
and acquisition policy. A merger or acquisition
should meet Group financial targets, focus on
global core products, keep the Group’s assets
in the top quartile, strengthen its market position
and utilise asset restructuring opportunities,
customer relationships and synergies. Mergers
and acquisitions are undertaken in a disciplined
and patient manner.
Three ways to increase assets
Expansion in existing core products in existing
markets such as Europe
and the USA;
Expansion in existing core products into new
markets such as Asia, South America and Russia;
Expansion into new branches of the forest
products industry or related business segments
in existing markets.
Financial targets
As a responsible member of the financial community
and industry, Stora Enso is committed to securing
the position of its shareholders by meeting strategic
financial targets. The target for Stora Enso’s return
on capital employed (ROCE) is 13% over the
cycle compared with the current WACC of 9.5%. The
debt/equity ratio should be at or below
0.8.
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