Stora Enso Further Curtails Production in Wood Products
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Stora Enso, Inc.
433 N. Main St.
Kimberly, WI, 54136
Press release date: November 29, 2007
As already announced in connection with the Group's third quarter 2007 results, market conditions remain difficult in Wood Products due to the temporary oversupply and high inventories in its main markets. Deliveries and prices for wood products are depressed, so the profitability of this segment in the fourth quarter of 2007 is expected to be significantly lower than in the fourth quarter of 2006.
In response to these conditions, Stora Enso is now further increasing its curtailments of production of sawnwood and glue-laminated posts and beams in Austria, the Baltic States and Finland in the fourth quarter of 2007 and early 2008. The target temporary curtailment is about 120 000 m≥ in glue-laminated products and about 500 000 m≥ in mainly whitewood sawnwood. For further information, please contact:
Hannu Ryopponen Deputy CEO and CFO tel. +44 20 7016 3114
Peter Kickinger Executive Vice President Stora Enso Timber tel. +43 664 182 5348
Kari Vainio, EVP Corporate Communications tel. +44 7799 348 197