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Myllykoski to Cut More Capacity in 2nd Quarter

April 30, 2009 - Myllykoski today said that it will take further market-related production curtailments in Europe in the second quarter of 2009.

The capacity cutbacks include both coated and uncoated paper grades at its European mills.

The company did not disclose the amount of production it plans to remove.

During the first four months this year, Myllykoski trimmed 150,000 tons of capacity, mainly in coated and related SC grades, to keep inventory balanced against orders.

The company said it is continuing to monitor the supply and demand situation and is prepared to take further steps if necessary.

Myllykoski operates mills in Finland, Germany, Switzerland and the United States with a total annual capacity of about three million tons. The company produces wood-containing uncoated and coated publication papers, including newsprint.

SOURCE: Myllykoski




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