Stora Enso Further Curtails Production in Wood Products
Helsinki, Finland, 29 November 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 curtailing 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 m3 in glue-laminated products and about 500,000 m3 in mainly whitewood sawnwood.