Stora Enso Enhances Efficiency in Sawmills
Staff Helsinki, Finland 19 February 2014 -- Stora Enso is planning to invest EUR 28 million in modernising and developing Murow Sawmill in Poland to increase its capacity and improve its competitiveness. Stora Enso also plans permanent closure of Sollenau Sawmill in Austria. Stora Enso is rethinking its geographical mix as part of its transformation into a renewable materials company. The investment in Murow Sawmill will develop Stora Enso’s wood product offering in the growing Central and Eastern European markets. Stora Enso will also utilise the platform in Poland to support growth in selected overseas markets. Stora Enso will record a restructuring provision and fixed asset write-down as a non-recurring item related to the planned closure with a negative impact of approximately EUR 10 million on operating profit in its first quarter 2014 results.
Stora Enso is the global rethinker of the paper, biomaterials, wood products and packaging industry. We always rethink the old and expand to the new to offer our customers innovative solutions based on renewable materials. Stora Enso employs some 28 000 people worldwide, and our sales in 2013 amounted to EUR 10.5 billion. Stora Enso shares are listed on NASDAQ OMX Helsinki (STEAV, STERV) and Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY) in the International OTCQX over-the-counter market.
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