MEMPHIS, Tenn. (News release) -- Sylvamo, the world's paper company, closed an agreement Monday acquiring Stora Enso's uncoated freesheet paper mill in Nymölla, Sweden, for 150 million euros. The mill, strong brands it produces and team members who operate and support the facility are now officially part of Sylvamo.

"The Nymölla mill strengthens our uncoated freesheet product mix and enables us to serve customers across Europe and around the world more effectively," said Jean-Michel Ribiéras, chairman and chief executive officer. "We'd like to welcome our new team members to the world's paper company."

The integrated mill has two pulp lines and the capacity to produce approximately 500,000 short tons of uncoated freesheet on two paper machines. The mill produces several brands, including Multicopy, and paper used for office printing, business forms, digital printing, offset for printing books and much more.

"I'd like to welcome Sylvamo to Skåne Iän as the mill becomes a part of the world's paper company. We look forward to a long lasting and prosperous relationship for years to come," said Michael Lindemann, manager, Nymölla Mill.

The Nymölla mill has an excellent environmental footprint, which complements Sylvamo's purpose to produce paper in the most responsible and sustainable ways. The low-cost mill generates 85% of its energy needs from carbon-neutral, renewable biomass residuals.