Arctic Paper takes action to minimize impact of Corona
The graphical paper market is expected to be negatively affected by the restrictions imposed by authorities and customers in many European countries to reduce the spread of Covid-19. In order to meet the uncertainty, increase flexibility and maintain resilience in a dynamic market, Arctic Paper is now taking measures to reduce the potential effects.
In order to match a potential drop in demand, Arctic Paper's Swedish subsidiaries in Grycksbo and Munkedal have agreed with the trade unions on a temporary short-time work allowance for parts of the workforce. As of April 7th, it is possible to apply for financial support from the Swedish government to compensate for a significant part of the costs for retaining the employees. The same measure may be used for other parts of the group in these European countries where temporary part or full time layoffs are possible.
“For the moment, our production is up and running at all our mills. But given the uncertainty caused by the Covid-19 pandemic, we are now taking precautionary measures to minimize the effects on our business.” Michal Jarczyński, CEO Arctic Paper S.A.
Arctic Paper will return to normal operations when the situation has stabilized. Arctic Paper expects to maintain all deliveries and satisfactory service to customers despite the measures.
Further information provided by:
Michal Jarczynski, CEO, Arctic Paper S.A.
Tel. (+46) (0)10 451 7005
E-mail: michal.jarczynski@arcticpaper.com
Göran Eklund, CFO, Arctic Paper S.A.
Tel. (+46) (0)10 451 7054
E-mail: goran.eklund@arcticpaper.com
Arctic Paper S.A. is one of the leading producers of high-quality graphical fine paper in Europe and consists of three paper mills and four eco-friendly strong brands, Amber, Arctic, Munken and the coated paper brand G. Most of the products are sold through the company’s 14 sales offices in Europe. The Group is the main owner of the listed Swedish pulp producer Rottneros AB. Arctic Paper S.A. is listed on the Warsaw Stock Exchange and NASDAQ in Stockholm.
For more information visit, arcticpaper.com