Stora Enso announces that it has plans to permanently shut down paper machine 1 (PM1) at its Veitsiluoto Mill in Kemi, Finland "due to structural weakening of magazine paper demand in Europe."
PM 1 has an annual capacity of 190,000 tonnes of coated magazine paper.
Stora Enso said the shutdown will occur by the end of the first quarter of 2014.
The planned closure would affect up to 90 employees and the company is starting co-determination negotiations with employees at theVeitsiluoto Mill.
The planned shutdown would decrease Stora Enso’s coated mechanical paper capacity by about 15%, which represents about 2% of total European coated mechanical paper capacity.
