0M32 Stora Enso Oyj

HELSINKI, June 6, 2023 /PRNewswire/ -- Stora Enso has completed the negotiations concerning the consolidation of its book paper production and the permanent closure of one of the two paper machines at the Anjalankoski site in Finland. The closure will take place during the fourth quarter of 2023.

In April 2023, Stora Enso announced a plan to permanently close one of the two paper machines and concentrate all book paper production to one line at the integrated Anjalankoski site due to the prevailing weak paper demand and high input costs.

The closure of the line producing uncoated mechanical grades will reduce the site's annual capacity by 250,000 tonnes and sales with approximately EUR 100 million. The closure will take place during the fourth quarter of 2023 and affect 89 people, of whom 50 will be made redundant. The majority of these redundancies are managed through pension arrangements.

"While it is very unfortunate that redundancies have to be made, we are pleased that the number of employees affected is significantly lower than anticipated. Stora Enso will continue to harness the Anjalankoski site's synergies between board and paper production and with the remaining paper machine, the Group will be able to continue producing its selection of book paper grades," says Hannu Kasurinen, EVP Packaging Materials division.

The integrated Anjalankoski site is reported under the Packaging Materials division since the beginning of 2023. The site includes the Ingerois packaging board production unit and the Anjala paper production unit, the latter of which was previously reported under the, now dissolved, Paper division.

Part of the global bioeconomy, Stora Enso is a leading provider of renewable products in packaging, biomaterials and wooden construction, and one of the largest private forest owners in the world. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has approximately 21,000 employees and our sales in 2022 were EUR 11.7 billion. Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV), (STERV) and Nasdaq Stockholm AB (STE A), (STE R). In addition, the shares are traded in the USA as ADRs (SEOAY). storaenso.com/investors 

For further information, please contact:
Carl Norell
Press officer
tel. +46 72 241 0349

Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 210 7691

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