Stora Enso launches more job cuts, Q3 results beat expectations
HELSINKI Oct 23 (Reuters) - Paper, pulp and packaging board maker Stora Enso said it plans to close more mills and slash jobs to cope with falling paper demand.
The Finnish company also reported a better-than-expected 175 million euros in operational profit. The market's average forecast was for 150 million euros according to a Reuters poll.
Stora Enso said it plans to shut down a paper machine in Sweden as well as a paperboard plant in Finland, in addition to other cuts. The closures would reduce 520 jobs and cut costs by 36 million euros ($47 million), it said. ($1 = 0.7651 euros) (Reporting By Jussi Rosendahl)