M-real to start statutory negotiations at the Äänekoski paper mill

M-real Corporation Press release 2.8.2010 at 13

M-real to start statutory negotiations at the Äänekoski paper mill

M-real Corporation, part of Metsäliitto Group, will start statutory
negotiations at the Äänekoski paper mill on 9 August 2010. The statutory
negotiations notice, released today, covers the Äänekoski paper mill personnel
in total of about 250 people. The maximum personnel reduction need is estimated
to be 50 people. Effects on the personnel are estimated to be realized during
the year 2011 at the latest. 

The statutory negotiations are based on efficiency improvement measures at the
Äänekoski Paper mill to improve its profitability. M-real announced on 29 March
2010 its plan to invest approximately EUR 6 million in sheeting operations at
the Äänekoski paper mill. The investment will increase sheeting capacity,
streamline the conversion process and improve package quality and the mill's
profitability. 

M-REAL CORPORATION

For further information, please contact:
Matti Mörsky, CFO, tel. +358 10 465 4913
Juha Laine, Vice President, Investor Relations and Communications, tel. +358 10
465 4335