Speculation is mounting that Stora Enso is preparing to move in on both Bunzl Fine Paper and Singapore-based Asia Pulp & Paper (APP).


A spokesman for Stora said: We did express an interest in Bunzl about two months ago, but we have to debate whether to continue on the path of integration.


Bunzl Fine Paper is a major division of Bunzl Plc. Its sales exceed 260m and it employs around 1,000 staff.


A spokeswoman for Bunzl said: We cannot comment on rumour. The Paper Division is not for sale at the moment, but that does not mean it wont be for sale in the future.


It is not clear whether Stora Enso is looking to buy all or part of APP, with APP having put its packaging and tissue interests up for sale in the past.


APP is Asias largest paper producer outside of
Japan, and Stora Enso has previously said it was looking to expand in the region.


Earlier this year, Stora Enso bought Consolidated Papers for 3bn (PrintWeek, 25 February).


Story by Andy Scott