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(Page 1) Stora Enso Oyj (Helsinki, Finland) is investing €8 million to double its production capacity of formed fiber in Europe. With new machinery in Hylte,
Tight market and soaring input costs push prices up to unprecedented levels
Strong performance and solid growth continue Q2/2021 (year-on-year) Sales increased by 22.6% to EUR 2 592 (2 114) million, due to higher deliveries and prices. Operational EBIT increased to EUR 364 (178) million, due to higher prices and volumes, especially in Biomaterials, Wood Products, and Packaging Materials. Operational EBIT margin increased to 14.0% (8.4%). Operating profit (IFRS) decreased to EUR 182 (226) million. EPS was EUR 0.26 (0.19) and EPS excl. fair valuations (FV) was EUR 0.27 (0.13). Strong cash flow from operations amounted to EUR 463 (363) million. Cash flow after invest...
Stora Enso will start co-determination negotiations with employees at its Kvarnsveden Mill in Sweden and Veitsiluoto Mill in Finland regarding a plan to permanently close down pulp and paper production at both mills. The planned closures would take place during the third quarter of 2021, and affect directly 670 people in Finland and 440 people in Sweden. Paper demand in Europe has declined for over a decade. This trend has further accelerated due to the pandemic, which has led to changes in consumer behaviour. As a consequence, there is a significant overcapacity in the European paper mark...
Stora Enso to cull more capacity with radical mill closure plan Jo Francis Wednesday, April 21, 2021 Stora Enso has rocked the industry by announcing plans to take out a further one million-plus tonnes of paper production – more than a third of its total paper capacity – with the closure of two mills, including its large Veitsiluoto Mill in Finland. Veitsiluoto has three paper machines. Stora Enso CEO says "approximately 15 machines of an average size need to be closed" across Europe The biomaterials group had already made dramatic changes in its paper ...