Change of name to strengthen its brand
Powerflute® is the brand name of the semi-chemical fluting produced at the Savon Sellu mill in Kuopio, Finland. In the past, the Powerflute name was also used by the publicly-trading holding company, Powerflute Oyj, which included the Powerflute business and other trading businesses such as Corenso among others. The decision to focus the Powerflute name on business directly related to the Powerflute® brand was made after Powerflute Oyj was acquired in November 2016 by entities managed and controlled by Madison Dearborn Partners, LLC, a US private equity group, through an acquisition vehicle incorporated as Nordic Packaging and Container (Finland) Holdings Oy. Going forward the Powerflute® brand will be used only by group entities directly related to the Powerflute fluting business and Savon Sellu Oy will be renamed Powerflute Oy. This unification of branding will further enhance Powerflute’s position as a manufacturer of Semi-Chemical Fluting.