New profit improvement actions planned in Speciality Papers business
area
(Thomson Reuters ONE) - M-real Corporation Stock Exchange Release on 9 December 2009 at 14.00New profit improvement actions planned in Speciality Papers businessareaM-real Corporation, part of Metsäliitto Group, is planning newsignificant internal measures to improve the Speciality Papersbusiness area's profitability. The main measures are the plannedclosures of two speciality paper machines in Reflex mill and thestreamlining of the organizations in both Gohrsmühle and Reflexmills.Speciality Papers business area includes the M-real Zanders papermills Reflex and Gohrsmühle in Germany. In Reflex there are currentlyfour and in Gohrsmühle two paper machines and in both mills there areseveral converting lines. Gohrsmühle mill's production portfolio hasearlier this year been radically changed by discontinuing thestandard coated fine paper production and expanding the uncoated finepaper and speciality paper production.Paper machines 1 and 5 are intended to be closed in Reflex millaccounting for 80,000 tonnes of annual capacity. The production ofcarbonless papers is planned to be transferred to Gohrsmühle mill andthe converting to remain in Reflex. Reflex will continue theproduction of premium fine and digital imaging papers. Productoffering and supply capability of M-real Zanders will remainunchanged.At the same time the organization and the management model in M-realZanders is planned to be streamlined."The production conversion in M-real Zanders has been implementedaccording to targets. Despite the unfavourable general marketsituation the new uncoated fine papers were successfully launched ina short time and customer feedback has been very positive. Work toimprove the profitability of M-real Zanders continues based on themeasures announced today," says Mikko Helander, CEO of M-real.Negotiations to implement the planned machine closures andorganizational changes will start on in January 2010. Implementationof the planned measures is planned to occur during the first half of2010. Related non-recurring costs will be determined oncenegotiations are completed. Annual profit improvement target for theplanned measures is approximately EUR 18 million fully from 2011onwards.For further information, please contact:Matti Mörsky, CFO, tel. +358 10 465 4913Juha Laine, Vice President, Investor Relations and Communications,tel. +358 10 465 4335This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 09.12.2009 - 13:00 Uhr
Sprache: Deutsch
News-ID 9439
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