Re Contract
November 19 2003 - 8:16AM
UK Regulatory
RNS Number:2540S
Forth Ports PLC
19 November 2003
19 November 2003
FORTH PORTS PLC
Forth Ports PLC to provide a terminal facility to Stora Enso in the UK
Forth Ports PLC and Stora Enso announce today that they have entered into a new
long-term agreement which proposes the provision of a new paper terminal
facility at the Port of Tilbury. The fifteen-year agreement will enable Stora
Enso to use the Port of Tilbury as its southern entry port in the United Kingdom
handling newsprint and paper from Sweden and Finland.
Forth Ports PLC will build the facility encompassing a general purpose warehouse
of 23,500 square metres, an automated warehouse of over 10,000 square metres, a
rail cross dock facility comprising a warehouse of over 4,500 square metres,
together with associated storage and marshalling areas and the future provision
of a wastepaper transfer facility of 3,000 square metres. Forth Ports PLC
expects the cost of this facility to be around GBP 31 million (EUR 45 million).
It is anticipated that the facility will open in July 2005 and will result in
the creation of additional jobs at the Port of Tilbury.
Charles Hammond, Group Chief Executive of Forth Ports PLC, said, "This is yet
another good example of the Group's ability to provide new facilities for a
major customer".
Lars-Gunnar Almryd, Senior Vice President of Stora Enso Transport and
Distribution, said, "This is an integral part of the pursuit of continuous
improvements in supply chain and customer service followed by Stora Enso".
Enquiries:
Charles Hammond Group Chief Executive, Forth Ports PLC Tel: 0131 555 8700
Wilson Murray Group Finance Director, Forth Ports PLC Tel: 0131 555 8700
Jon Coles Brunswick Group Tel: 0207 404 5959
Kate Miller Brunswick Group Tel: 0207 404 5959
Notes to editors:
Forth Ports
Forth Ports PLC owns and operates seven ports in the UK - Tilbury on the Thames,
Dundee on the Tay Estuary, and five in the Firth of Forth - Leith, Grangemouth,
Rosyth, Methil and Burntisland.
Within and around the Forth and Tay Estuaries, Forth Ports manages and operates
an area of 280 square miles of navigable waters, including two specialised
marine terminals for oil and gas export, provides other marine services, such as
towage and conservancy, and is involved in property, letting and development.
These activities make Forth Ports PLC the largest port grouping in Scotland and
the third in the UK in terms of tonnage and market capitalisation.
Stora Enso
Stora Enso is an integrated paper, packaging and forest products company
producing publication and fine papers, packaging boards and wood products, areas
in which the Group is a global market leader. Stora Enso sales totalled EUR
12.8 billion in 2002. The Group has some 42,500 employees in more than 40
countries in five continents and about 15 million tonnes of paper and board
annual production capacity. Stora Enso's shares are listed in Helsinki,
Stockholm and New York.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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