Thiele Kaolin Buys Back Stora Enso Holding

Stora Enso Oyj of Finland has signed an agreement to sell its 40.24% shareholding in Thiele Kaolin Co of Sandersville, GA back to the company for US$76 million. The consideration was paid fully in cash when the agreement was signed and is subject to final adjustments by the end of March 2014. Stora Enso’s shareholding in Thiele was part of its North American operations but not included in the divestments in 2007. The repurchase of Stora Enso shares consolidates Thiele’s shareholding base largely among founding families and their descendants, as well as present and former company employees. Stora Enso became a shareholder in Thiele following its acquisition of Consolidated Papers Inc in 2000. Paul Kirschling, Thiele’s president, commented, “Since 2000, Stora Enso has been a valuable partner and we thank them for their contributions over the years. We understand that Thiele is no longer a strategic asset for Stora Enso and we certainly wish them success in the future. On the other hand, Thiele looks forward to its future – financially sound and well positioned for continuing success as a global kaolin supplier.” Thiele mines and processes kaolin clay in Georgia and offers a full range of coating and filler pigments to the paper industry.

Volume 28 issue 3

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