Stora Enso Moves Ahead with Plans to Shutdown Coated Paper Machine in Finland

March 31, 2014 (Press Release) - In January 2014, Stora Enso announced that it planned to permanently shut down paper machine 1 (PM 1) at Veitsiluoto Mill in Finland, due to structural weakening of magazine paper demand in Europe. Co-determination negotiations with employees at the mill have now concluded and PM 1 will be permanently shut down by the end of April 2014.

The shutdown will affect 88 employees.

PM 1 has an annual capacity of 190 000 tonnes of coated magazine paper. The shutdown will decrease Stora Enso’s coated mechanical paper capacity by about 15%, which represents about 2% of total European coated mechanical paper capacity. Stora Enso will be able to serve its NovaPress customers from Veitsiluoto Mill PM 5 and from Kabel Mill in Germany.

Stora Enso will make every effort in co-operation with the local community to help the affected personnel find new employment opportunities, and all job openings in other Stora Enso units will be available to those affected.

For additional information about Stora Enso, visit the company's website: www.storaenso.com

SOURCE: Stora Enso