The Merging of The Two Business Divisions Is to Take Effect on 1 July

Even before the merging of the two business divisions ?Building and Living" and ?Printing and Reading", which was announced on 23 Apriland which is to take effect on 1 July, the Finnish timber and paper concern Stora Enso had since 2006 been making substantial reductions in capacity in both divisions. According to a corporate presentation on the occasion of the publication of the business figures for the first quarter of 2013, annual manufacturing capacity in the Building and Living business division totalling 2.08m m3 of softwood lumber has been withdrawn from the market during the last seven years. Of that volume, 1.21m m3 alone were accounted for by the sawmills producing spruce lumber at sites in Finland, Estonia, Austria and the Czech Republic. The latest measure in that sector was the termination of sawing of spruce roundwood in the Austrian sawmill in Sollenau, as a result of which production was reduced until further notice by roughly 180,000 m3 to approximately 290,000 m3/year.