Stora Enso Oyj - Company Announcement

Stora Enso plans to increase competitiveness by restructuring magazine paper operations

Helsinki, Finland, 2012-02-08 11:58 CET (GLOBE NEWSWIRE) -- STORA ENSO OYJ
STOCK EXCHANGE RELEASE 8 February 2012 at 12.58 EET 

Stora Enso's Printing and Reading Business Area plans to increase its cost
competitiveness by restructuring coated magazine paper operations at Corbehem
Mill in France, Veitsiluoto Mill in Finland and Kabel Mill in Germany. 

“The operating environment in coated magazine paper has remained challenging.
The plans announced today would respond to these challenges by improving cost
efficiency and productivity. The planned streamlining of coated magazine paper
operations, including investments in quality, productivity and energy saving,
would enable us to better meet customer and market expectations, and improve
profitability,” says Juha Vanhainen, EVP, Stora Enso Printing and Reading
Business Area. 

Stora Enso Printing and Reading plans to reduce annual costs by approximately
EUR 48 million, with the full impact achieved from the third quarter of 2013
onwards. The plans also include investments in Corbehem, Veitsiluoto and Kabel
mills totalling EUR 18 million. The proposed restructuring measures would
reduce the number of employees in coated magazine paper operations by up to 110
in total. It is planned that all the actions would be completed by the end of
2012. Stora Enso will record a cash provision of approximately EUR 5 million
and a fixed asset write-down of approximately EUR 1 million in the Printing and
Reading segment as a non-recurring item in the first quarter of 2012 results. 

The outcome of the plans will depend on the result of the local
co-determination procedures. Stora Enso would work in co-operation with the
local communities to help affected personnel to find new employment
opportunities, and all job openings in other Stora Enso units would be
available to those affected. 

For further information, please contact:
Juha Vanhainen, EVP, Printing and Reading Business Area, tel. +358 2046 21343
Lauri Peltola, Head of Communications and Global Responsibility, tel. +358 2046
21380 
Ulla Paajanen-Sainio, Head of Investor Relations, tel. +358 2046 21242

www.storaenso.com
www.storaenso.com/investors

Stora Enso is the global rethinker of the biomaterials, paper, packaging and
wood products industry. We always rethink the old and expand to the new to
offer our customers innovative solutions based on renewable materials. Stora
Enso employs some 30 000 people worldwide, and our sales in 2010 amounted to
EUR 10.3 billion. Stora Enso shares are listed on NASDAQ OMX Helsinki (STEAV,
STERV) and Stockholm (STE A, STE R). In addition, the shares are traded in the
USA as ADRs (SEOAY) in the International OTCQX over-the-counter market. 

STORA ENSO OYJ