OpenGate Closes Acquisition of Stora's Kotka Mills Division

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OpenGate Capital, Los Angeles, Calif., USA, this past week closed its acquisition of the Kotka Mills division of Stora Enso, Finland, along with Stora's laminating paper operations in Malaysia. The transaction also includes Stora's related business operations in Tainionkoski, Finland.

OpenGate reports that it has unified and rebranded these entities under the name Kotkamills, allowing it to continue selling specialty papers and wood-based products to the global laminate, plywood, construction, and magazine industries under one new company. Kotkamills will be headquartered in Kotka, Finland.

Kotkamills President Tuija Suur-Hamari said that "we are thrilled to be partnering with OpenGate Capital, which shares our long-term commitment to the business and pride in our 135-year heritage. Our team is eager to initiate new capital investment projects and new product developments with the support of OpenGate to ensure our future growth plans and continue to meet our customer needs around the world for years to come."