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(01/24/2014 / sha)
+++ IMPORTANT +++
Stora Enso: Plans to shut down coated magazine PM in Finland
Stora Enso is starting co-determination negotiations with employees at Veitsiluoto Mill in Finland regarding a plan to shut down permanently paper machine (PM) 1 with capacity of 190 000 t/y of coated magazine paper by the end of the first quarter due to structural weakening of magazine paper demand in Europe.
The planned shutdown would decrease Stora Enso’s coated mechanical paper capacity by about 15%, which represents about 2% of total European coated mechanical paper capacity. If PM1 was permanently shut down, Stora Enso would be able to serve its NovaPress customers from Veitsiluoto Mill PM5 and from Kabel Mill in Germany.
The planned closure would affect up to 90 employees.
