Munksjö plans to further adjust the cost structure and books non-recurring costs


MUNKSJÖ OYJ, STOCK EXCHANGE RELEASE 10 September 2015 at 4:30 p.m. CEST 

Munksjö plans to further adjust the cost structure and books non-recurring costs 

Munksjö plans to further adjust its cost structure. The plan includes restructuring actions that require personnel negotiations at the production facility located in Mathi, close to Turin in Italy. 

With the planned restructuring, Munksjö aims to further adjust the cost structure and improve the operational efficiency of Business Area Release Liners. The production facility in Mathi is a shared site with Ahlstrom Corporation. The headcount reduction related to the restructuring project is expected to be around 45 employees. Munksjö currently has around 270 employees in Italy. The restructuring is subject to consultation and approval processes in accordance with local legislation. 

The expected annual cost savings of the restructuring amount to approximately EUR 2.0-2.5 million. Munksjö expects to attain the full profitability effect of the planned cost savings gradually during 2016. Related to the restructuring in Mathi, other efforts to adjust the cost structure and other reorganisation activities, Munksjö will book non-recurring costs of approximately EUR 5 million in the third quarter of 2015. 

As communicated in November 2014, Munksjö’s EBITDA margin target of 12 per cent over a business cycle is planned to be achieved through efforts and initiatives including; continued organic growth, reinforced market positions in existing product segments, strengthened positions in emerging markets, continued adjustments of the cost structure, measures to improve efficiency in production and further develop the technical service offering. The ambition is to reach the profitability target at the end of 2016. 

Munksjö Oyj 


For more information, please contact: 

Jan Åström, President and CEO, tel. +46 10 250 1001
Daniele Borlatto, EVP and President Release Liners, tel. +39 011 9260 193 
Laura Lindholm, Investor Relations Manager, tel. +46 (0) 72 703 6336   



Made by Munksjö – Intelligent paper technology 

Munksjö is a world-leading manufacturer of advanced paper products developed with intelligent paper technology. Munksjö offers customer-specific innovative design and functionality in areas ranging from flooring, kitchens and furnishings to release papers, consumer-friendly packaging and energy transmission. The transition to a sustainable society is a natural driving force for Munksjö’s growth as the products can replace non-renewable materials. This is what “Made by Munksjö” stands for. Given Munksjö’s global presence and way of integrating with the customers, the company forms a worldwide service organisation with approximately 2,900 employees and 15 facilities located in France, Sweden, Germany, Italy, Spain, Brazil and China. Munksjö’s share is listed on Nasdaq in Helsinki and Stockholm. Read more at www.munksjo.com.





 

About Us

Ahlstrom-Munksjö in brief Ahlstrom-Munksjö is a global leader in fiber-based materials, supplying innovative and sustainable solutions to its customers. Our mission is to expand the role of fiber-based solutions for sustainable every day life. Our offering includes filter materials, release liners, food and beverage processing materials, decor papers, abrasive and tape backings, electrotechnical paper, glass fiber materials, medical fiber materials and solutions for diagnostics as well as a range of specialty papers for industrial and consumer end-uses. Our annual net sales is about EUR 3 billion and we employ some 8,000 people. The Ahlstrom-Munksjö share is listed on the Nasdaq Helsinki and Stockholm. Read more at www.ahlstrom-munksjo.com.

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