STORA ENSO R

Stora Enso plans to spin off its Swedish forest assets into a new, separately listed company, a move it said will create Europe's largest publicly traded firm focused solely on forestry.

Stora Enso is reviewing its Central European sawmills and building solutions operations, signaling another step in its plan to shed non-core assets and concentrate on renewable packaging.

Stora Enso plans to spin off its Swedish forest assets into a new, publicly listed company, creating what it says will be Europe's largest publicly traded firm focused solely on forestry.

Stora Enso said Thursday its plan to potentially spin off and list its Swedish forest assets is progressing, as the Finnish-Swedish paper and packaging company reported a drop in third-quarter profit.

Stora Enso is considering spinning off its Swedish forest assets into a separately listed company as it sharpens its focus on renewable packaging.