Stora Enso to close two mills

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4 October 2006 — Helsinki (FIN): Stora Enso intends to close down its Reisholz Mill in Germany and its Berghuizer Mill in the Netherlands, subject to local consultation.

 

The mills are to be closed due to a lack of productivity despite initiatives implemented following the company’s asset performance review in October 2005.

 

The company also attributes the closures to rising energy and wood prices.

 

The closures are expected to result in a fall in Q3 profit of approximately €270 million.

 

The mills are expected to shut down by the end of next year.