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M-real Concludes Negotiations to Reduce Workforce at Äänekoski Mill

Metsa, Finland, 11 October 2010 -- M-real Corporation, part of Metsäliitto Group, has concluded the statutory negotiations at the Äänekoski paper mill. As a result of the negotiations, the personnel reduction at the mill is to be a maximum 44 people. Effects on the personnel will be realized during the year 2011 at the latest.

M-real started the statutory negotiations on 09 August 2010 and they were based on efficiency improvement measures at the Äänekoski paper mill to improve its profitability. The statutory negotiations concerned 250 Äänekoski paper mill personnel in total.

In cooperation with local authorities and the city of Äänekoski, M-real will help redundant employees find new employment. In addition, M-real will facilitate redeployment, if possible, by offering jobs internally in the company or other Metsäliitto Group's businesses.

M-real previously announced on 29 March 2010 its plan to invest approximately EUR 6 million in sheeting operations at the Äänekoski paper mill. The investment will increase sheeting capacity, streamline the conversion process, and improve package quality and the mill's profitability. The investment will be concluded in summer 2011.


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