Google Buys a Paper Mill
Google continues to find new ways to influence the publishing industry. Stora Enso, a global paper, packaging and forest products company with facilities in more than 35 countries, announced yesterday it has agreed to sell its Summa Mill site in Finland to Google for approximately $51.7 million. Google is expected to convert the facilities into a center for data storage.
The sale should close by the end of the first quarter of 2009. Production had been halted at the mill in January 2008 as a result of "persistent losses in recent years and poor long-term profitability prospects," according to the company.