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Stora Enso to invest in production sites in Finland and Sweden
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Stora Enso cuts 550 jobs from Veitsiluoto plant
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Article by Amanda Jasi
PENDING discussions with employees, renewable materials company Stora Enso plans to permanently close two European pulp and paper production mills amidst declining demand. The closures, planned for Q3 of 2021, would impact more than 1,000 workers.
According to Stora, paper demand in Europe has been declining for more than a decade, and the Covid-19 pandemic has accelerated this downward trend. This has led to significant overcapacity in the European market, resulting in historically low prices and challenges to the cost-competitiveness of many paper mills.
Plans would see Stora close its Kvarsden Mill in Borlänge, Sweden, which has capacity of 565,000 t/y of paper products and a 900,000 t/y pulp mill. The company would also close its Veitsiluoto Mill in Kemi, Finland (with a total paper capacity of 790,000 t/y, a 360,000 t/y pulp mill, a groundwood mill, and a sheeting plant). The plants produce paper for a range of applications, including magazines, newspr
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 market, which has resulted in historically low price levels and challenged the cost-competitiveness of many paper mills. Both Kvarnsveden and Veitsiluoto mills are loss-making, and their profitability is expected to remain unsatisfactory also going forward.
Stora Enso to close Swedish and Finnish paper mills
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