Stora Enso (OMX: STE1RV) said it is closing down Páty corrugated consumer board packaging mill in Hungary due to significantly weakened demand in the country. The company says it is centralising operations to Komarom Mill. Certain assets will be transferred to Komarom. The closure will affect 79 employees.
Stora Enso also announced efficiency measures i Barcelona, Spain white lined chipboard (WLC) Mill. The proposed measures would result in reduction of workers by 15. These plans coupled with other ongoing efficiency measures in the Nordic countries will reduce annual costs by 7 million. A 9 million restructuring provision will be taken in Q1 2012 numbers.
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