Google Buys … A Paper Mill?
Consider it a sign of the times when internet company Google acquires the buildings and premises of a mill site from a paper, packaging and forest products company that caters to the print industry.
Today, Finland-based paper group Stora Enso has announced that Google is buying the buildings and most of the Summa Mill site, where production of paper was ceased last month, for approximately €40 million.
From the press release:
Google is expected to announce its plans or future investment "in due course", and has agreed that part of the mill site will be further transferred to the City of Hamina for other industrial uses.
An earlier (brutally honest) press release from Stora Enso reveals that the mill site was closed down because of "persistent losses in recent years and poor long-term profitability prospects" It continues: "Despite tremendous efforts by its employees, the mill cannot compete in today’s and tomorrow’s markets using expensive virgin wood fibre, much of which is imported".
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