M-real initiates cost savings and efficiency improvement programme in its Swedish operations (15 February, 2005)
M-real Corporation Stock Exchange Bulletin 15.2.2005 at 10 a.m.
M-real has initiated a programme to enhance productivity and profitability at
Wifsta and Husum mills in Sweden. The target is to reduce costs by at least SEK
200 million and reach a 15% productivity increase by the end of the year 2006.
An important element in the programme is the planned integration of Wifsta into
Husum organisation. Negotiations with Labour Unions at M-real's Wifsta and
Husum mills have been started regarding the actions of the programme.
The programme is part of M-real's Cost Savings and Efficiency Improvement
programme 2004 - 2006. The final decision and estimate of potential one-time
costs are expected to be made during second quarter 2005.
For additional information contact Juhani Pöhö, Chief Financial Officer, tel.
+358 10 469 5283 or Peter Sandberg, Executive Vice President, Office Papers,
tel. +31 20 572 7560
M-real Corporation is a European paper and paperboard company with nearly
16,500 employees. M-real provides fibre-based solutions for consumer packaging,
communications and advertising end-uses. Through its worldwide sales network,
M-real serves its customers consisting mostly of publishers, printers, paper
merchants, offices and well-known consumer product companies. The turnover of
M-real in 2003 amounted to 6 billion euros. The company is headquartered in
Finland, and it is listed on the Helsinki Stock Exchange.
Metsä Group is a forerunner in sustainable bioeconomy utilising renewable wood from sustainably managed northern forests. Metsä Group focuses on wood supply and forest services, wood products, pulp, fresh fibre paperboards and tissue and greaseproof papers.
In 2019, Metsä Group’s sales totalled EUR 5.5 billion, and it employs approximately 9,300 people. Metsäliitto Cooperative is the parent company of Metsä Group and is owned by approximately 103,000 Finnish forest owners.