Stora Enso plans to streamline its Swedish maintenance operations

STORA ENSO OYJ STOCK EXCHANGE RELEASE 8 February 2012 at 12.57 EET

Stora Enso plans to increase further the efficiency and flexibility of its local maintenance operations in Sweden by restructuring and changing the processes.

The planned restructuring measures would reduce the workforce by approximately 130 employees in maintenance operations in Sweden. The planned restructuring concerns Hylte, Skoghall, Skutskär, Fors and Kvarnsveden mills. Altogether approximately 800 personnel are employed in maintenance at the units concerned.

The restructuring measures would reduce annual costs by approximately EUR 21 million starting gradually from late 2012 onwards. Stora Enso will record a cash provision of EUR 6 million in the Renewable Packaging segment and EUR 4 million in the Printing and Reading segment as a non-recurring item in the first quarter of 2012 results.

“To safeguard our competitiveness, we need to stay on the path of improvements in costs and productivity, and also flexibility. We are therefore planning to increase the efficiency of our local maintenance operations,” says Mats Nordlander, Executive Vice President Renewable Packaging and Country Manager Sweden.

All decisions will be taken only after the local co-determination negotiations have been concluded. Stora Enso would make every effort in co-operation with local communities to help the affected personnel find new employment opportunities, and all job openings in other Stora Enso units would be available to those affected.

For further information, please contact:
Mats Nordlander, EVP Renewable Packaging, Country Manager Sweden, tel. +46 1046 72703
Jonas Nordlund, Director, Communications in Sweden, tel. +46 1046 71663
Ulla Paajanen-Sainio, Head of Investor Relations, tel. +358 2046 21242

www.storaenso.com
www.storaenso.com/investors

Stora Enso is the global rethinker of the biomaterials, paper, packaging and wood products industry. We always rethink the old and expand to the new to offer our customers innovative solutions based on renewable materials. Stora Enso employs some 30 000 people worldwide, and our sales in 2010 amounted to EUR 10.3 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