Stora Enso shuts down its paper machine 8 (PM8) at Kvarnsveden Mill in Sweden

HELSINKI, 22-Jun-2017 — /EuropaWire/ — In February 2017, Stora Enso announced that it planned to permanently shut down paper machine 8 (PM8) at Kvarnsveden Mill in Sweden due to structural weakening of magazine paper demand in Europe. Co-determination negotiations with employees at the mill are still ongoing, but PM8 was permanently shut down yesterday. The number of people affected by the reorganization of the mill and shutdown will be determined during Q3 2017.

PM8 had an annual capacity of 100 000 tonnes of super-calendered uncoated magazine paper (SC). The closure of PM8 at Kvarnsveden Mill will not impact Stora Enso’s SC paper offering. In Europe, Stora Enso continues to produce SC paper at Kvarnsveden Mill PM12 as well at Maxau Mill in Germany and Langerbrugge Mill in Belgium. The group also serves its SC customers from Dawang Mill in China.

Production at Kvarnsveden Mill will continue on two lines, PM10 for improved newsprint paper and PM12 for SC papers.

Stora Enso will make every effort in co-operation with the local community to help the affected personnel find new employment opportunities, and mitigate the impact of the reorganisation and PM8 closure through individual solutions. All job openings in other Stora Enso units will be available to those affected.

For further information, please contact:
Ulrika Lilja, EVP, Communications, tel. +46 72 221 9228
Liisa Nyyssönen, SVP Communications, Paper division, tel. +358 40 544 3491

Investor enquiries:
Ulla Paajanen-Sainio, SVP, Investor Relations, tel. +358 40 763 8767

Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wooden constructions and paper on global markets. Our aim is to replace fossil-based materials by innovating and developing new products and services based on wood and other renewable materials. We employ some 25 000 people in more than 35 countries, and our sales in 2016 were EUR 9.8 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY). storaenso.com 

SOURCE: STORA ENSO OYJ

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