| Stora Enso - capacity closures to improve cost-competitiveness |
| 15/09/2008 - 09:45 |
Stora Enso plans to permanently close down the cartonboard machine at Baienfurt in Germany with annual capacity 190 000 tonnes of folding boxboard by the end of 2008, subject to local consultation. The machine is planned to be closed due to persistent profitability problems caused by European overcapacity in folding boxboard, the strength of the euro and cost increases, especially for wood and energy. The plan is to continue serving the mill's customers from the Group's other board mills in Finland and Sweden. The sheeting service centre at Baienfurt will remain in operation to continue providing an excellent service to customers.
Stora Enso plans, subject to local consultation, to permanently shut down board machine (BM) 1 at Imatra in Finland with annual capacity 170 000 tonnes of cupstock and liquid packaging board by the end of 2009. The machine is unprofitable due to the strong euro and high wood costs. Stora Enso also plans to permanently shut down two polymer coating (PE) machines due to reduced polymer coating needs (PE 2 at Imatra and PE 4 at Karhula). The plan also includes an overall streamlining of operations at Imatra Mills.
Investing in profitable customer segments and to reduce dependence on Russian roundwood
At the same time, Stora Enso plans to invest about EUR 135 million over the next two years to develop the Group's operations at Imatra, Fors and Ingerois mills. At Imatra, investments in the pulp mill will reduce costs and the dependence on Russian roundwood. The annual capacity of BM 4 will be increased to improve product quality and to serve current customers of BM 1. Stora Enso will also invest to improve the efficiency and quality of the remaining PE coating lines and build one new sheeting line at Imatra. At Fors and Ingerois, the quality, capacity and productivity of the board machines will be improved and the sheeting capacity increased.
Additional planned permanent asset closures to improve cost-competitiveness
Stora Enso plans to permanently shut down paper machine (PM) 3 at Kabel in
Germany with annual capacity 140 000 tonnes of coated magazine paper by the end of 2008 due to profitability problems caused by overcapacity in Europe and increased wood and energy costs.
Stora Enso plans to permanently shut down by the end of 2008 Corenso's coreboard machine at Varkaus in Finland with an annual capacity of 100 000 tonnes, which is part of the Industrial Packaging business area, due to persistent profitability problems. Measures are also planned to be taken at Varkaus to improve profitability by enhancing efficiency in fine paper and newsprint.
Stora Enso plans to permanently shut down the sawmill at Paikuse in Estonia with an annual capacity of 170 000 cubic metres by the end of 2008 due to profitability problems caused by overcapacity and escalating sawlog prices.
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