Stora Enso Has Concluded Co-Determination Negotiations At Tolkkinen Sawmill

• Press Release
• Source: Stora Enso Oyj
• On 8:15 am EDT, Friday October 9, 2009

HELSINKI, Finland, Oct. 9, 2009 (GLOBE NEWSWIRE) -- Stora Enso's co-determination negotiations at Tolkkinen Sawmill in Finland have been concluded. On 19 August 2009 Stora Enso announced plans that included permanent closure of Tolkkinen Sawmill by the end of 2009. The reason for the planned closure has unfortunately not changed: long-term overcapacity in the sawnwood market and limited availability of cost-effective raw material. Tolkkinen Sawmill will therefore be permanently closed down by the end of 2009.

Related Quotes

Symbol	Price	Change
SEOAY.PK	7.84	-0.30

{"s" : "seoay.pk","k" : "c10,l10,p20,t10","o" : "","j" : ""}

Tolkkinen Sawmill has been temporarily shut down and most of its employees have been temporarily laid off since January 2009. The closure will reduce Stora Enso's number of employees by 41 and its annual production capacity by 260,000 m3 of sawn wood.

"In close co-operation with local authorities and the city of Porvoo, Stora Enso will help employees affected to find new employment. Stora Enso will also facilitate redeployment through efficiently offering jobs internally and eligibility for outplacement services. The mill site has already attracted a lot of interest since the closure plan was announced, and we hope to find other businesses to utilise the mill site and this way provide long-term solutions for our employees made redundant through the mill closure," says Hannu Kasurinen, EVP, Wood Products Business Area.

Stora Enso is the world leader in forest industry sustainability. We offer our customers solutions based on renewable raw materials. Our products provide a climate-friendly alternative to many non-renewable materials, and have a smaller carbon footprint. Stora Enso is included in the Global 100 list of the world's most sustainable companies. Stora Enso is also listed in the Dow Jones Sustainability Index, the FTSE4Good Index, and the Climate Disclosure Leadership Index. Stora Enso employs 29,000 people worldwide, and our sales in 2008 amounted to EUR 11.0 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

Jari Suvanto

Ulla Paajanen-Sainio

Stora Enso Oyj
Hannu Kasurinen, EVP, Wood Products
  +358 2046 21222
Ulla Paajanen-Sainio, Head of Investor Relations
  +358 2046 21242
Paeivi Kauhanen, Director, Communications in Finland
  +358 2046 21292
www.storaenso.com
www.storaenso.com/investors