Stora Enso Sells Subsidiary, Formeca, to Amitec

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In Finland, renewable biomaterial packaging and construction company Stora Enso is selling its subsidiary that focuses on automated packaging machinery, Formeca, to Amitec also based in Finland. Amitec specializes in machine construction and engineering, so moving Formeca over to them makes sense. The amount is undisclosed and Stora Enso will now resell Formeca machinery. Most employees will stay at Formeca with only a few employees moved over to Stora Enso to help with customer support.

Their goal with the transaction is to improve profitability and customer service while ensuring progress within their businesses. Harri Mononen, Amitec managing director, told Machinery and Equipment, “We see great potential in improving and complementing Formeca’s product range and developing the already great machines even further. Amitec is a very proud new owner of Formeca.”