Stora Enso Plans to Streamline its Swedish Maintenance Operations 

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

Feb 8 2012 --- Stora Enso plans to increase further the efficiency and flexibility of its local maintenance operations in Sweden by restructuring and changing the processes.

The planned restructuring measures would reduce the workforce by approximately 130 employees in maintenance operations in Sweden. The planned restructuring concerns Hylte, Skoghall, Skutskär, Fors and Kvarnsveden mills. Altogether approximately 800 personnel are employed in maintenance at the units concerned.

The restructuring measures would reduce annual costs by approximately EUR 21 million starting gradually from late 2012 onwards. Stora Enso will record a cash provision of EUR 6 million in the Renewable Packaging segment and EUR 4 million in the Printing and Reading segment as a non-recurring item in the first quarter of 2012 results.

“To safeguard our competitiveness, we need to stay on the path of improvements in costs and productivity, and also flexibility. We are therefore planning to increase the efficiency of our local maintenance operations,” says Mats Nordlander, Executive Vice President Renewable Packaging and Country Manager Sweden.

All decisions will be taken only after the local co-determination negotiations have been concluded. Stora Enso would make every effort in co-operation with local communities to help the affected personnel find new employment opportunities, and all job openings in other Stora Enso units would be available to those affected.