Site Search

DEUTSCH All Languages

Companies in the News

Metsäliitto-konserni (HEL:MEL1V) Closure Of Metsä-Botnia's Pulp Mill In Kaskinen

Metsäliitto-konserni (HEL:MEL1V) Metsäliitto Group Stock Exchange Release 14.1.2009

Metsäliitto Group's subsidiary Oy Metsä-Botnia Ab has today announced its decision to close its pulp mill in Kaskinen. In the statutory labour negotiations that commenced in November 2008 and concluded on 12 January 2009, the necessary economic preconditions for continuing the mill's operations could not be found so the mill will be closed during the first quarter of 2009. The mill's operations have become unprofitable due to poorer availability of competitively priced wood raw material over the long term and due to increased production costs.

Metsäliitto Group's share of the non-recurring expenses incurred by Metsä-Botnia as a result of the close-down will be approximately EUR 40 million, of which approximately EUR 10 million are cash-flow effects. The non-recurring expenses will be booked in the 2009 result during the first quarter.

Metsäliitto Group owns 53 per cent of Metsä-Botnia. The Kaskinen BCTMP mill owned by Metsäliitto Group's subsidiary M-real Corporation will continue its operations normally.

Further information Ilkka Pitkänen, Group CFO, Metsäliitto Group, tel. +358 10 465 4260 Anne-Mari Achrén, Group CCO, Metsäliitto Group, tel. +358 10 465 4541

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Metsäliitto-konserni

http://www.metsaliitto.com/main.asp

ISIN: FI0002001611

Stock Identifier: XHEL.MEL

Verbundene Unternehmen

Metsäliitto-konserni

ABN Newswire Diese Seite wurde besucht: (letzten 7 Tagen: 8) (letzten 30 Tagen: 27) (seit Veröffentlichung: 1582)