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Stora Enso launches more job cuts, Q3 results beat expectations
October 23, 2012 / 10:16 AM / 5 years ago

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)

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