| Stora Enso will Continue Production Curtailment at Sunila Oy |
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Helsinki, Finland, 29 May 2009 -- Sunila Oy has been losing money since the beginning of the year because pulp prices have remained low and it has not been possible to reduce wood costs sufficiently. Sunila halted production in response to slack market pulp sales, stoppages at customers' mills, and declines in orders.
Because of production curtailments, Sunila Oy has laid off almost all of its personnel since the beginning of April. The production curtailments and related temporary lay-offs are being extend beyond the summer holiday stoppage until the end of September because the company sees no sign of an improvement in the market situation.
Sunila Oy is 100% owned by Stora Enso Oyj.
Stora Enso is the world leader in forest industry sustainability. The company offers its customers solutions based on renewable raw materials; its products provide a climate-friendly alternative to many nonrenewable materials, and have a smaller carbon footprint. Stora Enso is included in the Global 100 list of the world's most sustainable companies. Stora Enso is also listed in the Dow Jones Sustainability Index, the FTSE4Good Index, and the Climate Disclosure Leadership Index. Stora Enso employs 29,000 people worldwide, and had sales in 2008 of EUR 11.0 billion. For additional information, visit www.storaenso.com. |
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