Stora Enso has concluded co-determination negotiations at Tolkkinen Sawmill
STORA ENSO OYJ STOCK EXCHANGE RELEASE 9 October 2009 at 12.00 GMT
Stora Enso's co-determination negotiations at Tolkkinen Sawmill in Finland have
been concluded. On 19 August 2009 Stora Enso announced plans that included
permanent closure of Tolkkinen Sawmill by the end of 2009. The reason for the
planned closure has unfortunately not changed: long-term overcapacity in the
sawnwood market and limited availability of cost-effective raw material.
Tolkkinen Sawmill will therefore be permanently closed down by the end of 2009.
Tolkkinen Sawmill has been temporarily shut down and most of its employees have
been temporarily laid off since January 2009. The closure will reduce Stora
Enso's number of employees by 41 and its annual production capacity by 260 000
m3 of sawn wood.
“In close co-operation with local authorities and the city of Porvoo, Stora Enso
will help employees affected to find new employment. Stora Enso will also
facilitate redeployment through efficiently offering jobs internally and
eligibility for outplacement services. The mill site has already attracted a lot
of interest since the closure plan was announced, and we hope to find other
businesses to utilise the mill site and this way provide long-term solutions for
our employees made redundant through the mill closure,” says Hannu Kasurinen,
EVP, Wood Products Business Area.
For further information, please contact:
Hannu Kasurinen, EVP, Wood Products, tel. +358 2046 21222
Ulla Paajanen-Sainio, Head of Investor Relations, tel. +358 2046 21242
Päivi Kauhanen, Director, Communications in Finland, tel. +358 2046 21292
www.storaenso.com
www.storaenso.com/investors
Stora Enso is the world leader in forest industry sustainability. We offer our
customers solutions based on renewable raw materials. Our products provide a
climate-friendly alternative to many non-renewable 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 our sales in 2008
amounted to EUR 11.0 billion. Stora Enso shares are listed on NASDAQ OMX
Helsinki (STEAV, STERV) and Stockholm (STE A, STE R). In addition, the shares
are traded in the USA as ADRs (SEOAY) in the International OTCQX
over-the-counter market.
STORA ENSO OYJ
Jari Suvanto Ulla Paajanen-Sainio