Finnish paper maker Stora Enso made a statement on Thursday denying reports that that it is planning a joint venture with two other Nordic forestry companies.

According to Stora Enso, no talks about creating a joint Nordic newsprint company have taken place.

The statement came in response to reports by Finnish national daily Helsingin Sanomat, earlier the same day, that Stora Enso was planning a joint newsprint company with two other Nordic forestry companies, Swedish Holmen and Norwegian Norske Skog.

According to Helsingin Sanomat, the companies wanted to combine production of newsprint because of its current weak profitability. The report told that papers were to be signed this autumn, so that the new company could take part in next year's annual newsprint price fixing negotiations.

STT