Helsinki, Finland 21 December 2018 -- Stora Enso has completed the co-determination negotiations on possible temporary layoffs with its employees at its Oulu Mill in Finland. As a result of the negotiations, Stora Enso can, if needed, temporarily lay off employees at Oulu Mill, excluding the personnel at the pulp mill, for a maximum of 90 days during the first half of 2019.

"Possible temporary curtailments would be used to enhance efficiency and optimise paper production according to the market demand. Oulu pulp mill was outside of the scope of the negotiations, and it is planned to be run during the possible temporary layoffs," says Mill Director Jari Kärkkäinen.

Stora Enso announced on 28 November 2018 that it would start co-determination negotiations at Oulu Mill, as market demand for woodfree coated papers (WFC) produced at the mill has declined. Simultaneously the prices of the most important raw materials for paper production have continued to rise.

Part of the bioeconomy, Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wooden constructions and paper globally. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has some 26 000 employees in over 30 countries. Our sales in 2017 were EUR 10 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq Stockholm (STE A, STE R). In addiion, the shares are traded in the USA as ADRs (SEOAY).