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Arctic Paper S.A.
Poznan, Poland, 02 February 2011 -- After three quarters of 2010, Arctic Paper S.A. recorded a net loss of nearly PLN 6.2 million. The financial result was mainly due to high prices of pulp and unfavorable foreign exchange rates.
Arctic Paper is working with its previously launched profit improvement plan. During 2010, Arctic Paper implemented further revenue stimulating initiatives. Price increases have been implemented for its products. The group is working with cost rationalization activities.

As part of the profit improvement plan, the Arctic Paper Munkedals mill in Sweden intends to reduce staff by approximately 45 employees. Negotiations with the trade unions at the mill have been initiated.

“We expect that Arctic Paper Munkedals will meet its financial targets this year. The mill offers unique, high quality products, we are developing new product offers, and the Munken brand is well recognized,” said Michał Jarczyński, CEO of Arctic Paper S.A.

Arctic Paper S.A. is one of the leading European manufacturers of bulky book paper and graphic fine paper. The group produces high quality coated, uncoated wood-free, and uncoated wood-containing papers. Production is carried out at Arctic Paper Kostrzyn, Poland; Arctic Paper Munkedals and Arctic Paper Grycksbo, Sweden; and Arctic Paper Mochenwangen, Germany. The total production capacity of the company's four paper mills is 810,000 metric tons of paper per year. The company currently employs 1650 people across Europe and has sales offices in 15 European countries. Arctic Paper S.A. is listed on the Warsaw Stock Exchange since October 2009.

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