- Stora Enso confirms plans to close two loss making paper mills in Europe: This would remove 1.4tpa of paper capacity and 1.3mpta of pulp capacity.
- Stora Enso to reduce its paper footprint by 35% to 2.6mtpa: Annual paper sales are expected to decrease by EUR 600mn, with an EBITDA uplift of EUR 35mn pa. This means that the Paper segment would only contribute c.10% of group revenue once the closures have been completed. Planned closures are expected to be completed by Q3 21e, impacting 670 employees.
- Veitsiluoto Mill closure to improve UWF fundamentals in Europe, positive read-though for Mondi (c.1.4mpta of UWF produced in FY 20A): The mill in Finland has a total capacity of 790ktpa across three PMs. Two PMs are UWF for office use and the other PM is for coated paper grades, mainly for magazine. The mill also has 360kpta of integrated chemical pulp.
- Kvarnsveden Mill closure to improve coated mechanical fundamentals in Europe: The mill in Sweden has two paper machines (PMs), with a combined capacity of 565kpta. This is comprised of supercalendered magazine papers and improved newsprint. The mill also has an integrated softwood thermomechanical pulp capacity of 900ktpa.
- Conference call at 11am today: It can be accessed at https://storaenso.videosync.fi/2021-04-20-press-conference.
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