Stora Enso cuts production of key wood products amid market oversupply |
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Published
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Thu, 29 Nov 2007 09:44
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HELSINKI (Thomson Financial) - Stora Enso said it is cutting back on production of key wood products at production sites in Finland, the Baltics and Austria this quarter and during the early part of 2008 due to high inventory levels in the market.The company said low prices for its products mean profitability in its Wood Products division is likely to be 'significantly lower' year-on-year.It is targeting a 0.5 mln cubic metre curtailment in the production of sawnwood and a 120,000 cubic metre cut in glue-laminated products during the period.james.etheridge@thomson.comje/kf1COPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Stora Enso workers walk out in protest at mill closures, job cuts - reports 