Stora Enos Provides Additional Information on the Closure of their Veitsiluoto Pulp and Paper Mill

Responding to reduced demand in the paper market, Stora Enos announced back in April 2021 that it planned to permanently close down pulp and paper production at its Kvarnsveden and Veitsiluoto mills. Stora Enos has now provided additional details on those proposed closures. As a result of the co-determination negotiations regarding the Veitsiluoto site, the three paper machines, chemical pulp and groundwood production, and the sheeting plant will be closed permanently. The sawmill will continue operating at the site within the Wood Products division and employ some 50 persons. Pulp and paper production at Veitsiluoto is estimated to cease during the 3Q 2021. Stora Enso says that they will be working closely together with its other company locations, the City of Kemi and other stakeholders to support re-employment and re-training of the affected employees. The support will include outplacement services as well as individual and group training for re-employment and re-training. Stora Enso will also offer relocation support for people who transfer to other locations for work, and financial support for employees starting up their own companies. 28% of the redundancies can be managed through pension arrangements.