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UPM-Kymmene Corporation's UPM Raflatac to Close Some of Its Facilities in Europe, South-Africa and Australia

5:30am EDT

UPM-Kymmene Corporation announced that the Company's unit UPM Raflatac is planning to reduce labelstock production capacity in Europe, South-Africa and Australia to secure cost competitiveness and profitability in low-growth markets. According to the plan, the labelstock factory in Martigny, Switzerland, the coating operations in Melbourne, Australia and Durban, South Africa as well as the slitting and distribution terminal in Johannesburg would be closed. In addition, working time and shift changes and reductions are planned in France, Spain and the United Kingdom. If all plans will be implemented, the estimated total impact would be maximum 170 positions in the affected countries. Decisions will be taken after consultation and negotiations with the employees in the relevant countries. Most of the restructuring is estimated to be complete by the end of 2013.

Stora Enso Oyj Concludes Second Phase of Planning EUR 200 Million Streamlining and Structure Simplification Program; Estimates Personnel Reduction of Approximately 2,500

Tuesday, 18 Jun 2013 02:00am EDT

Stora Enso Oyj announced that the Company is to conclude second phase of EUR 200 million streamlining and structure simplification program announced on 23 April, 2013. According to preliminary estimates, the plans could reduce the total number of employees by approximately 2,500, depending on the outcome of the co-determination negotiations and processes. In Finland it is expected to reduce the number of employees by 650, in Sweden by 750, in Europe excluding Nordic countries by 850, and outside Europe by 250. The cost-efficiency and rightsizing actions are being planned by each Business Area, Group Service and Function. The actions planned in the Business Areas include identifying process efficiencies in production units and services, and the potential to reduce and centralise mill administration tasks, and to simplify organization structures and reduce management layers in Business Area administration. Group Services and Functions are rethinking their priorities, rightsizing and simplifying structures. Some will go through further strategic assessment in order to optimize the service level and approach.

Ahlstrom Oyj Sign New Demerger Plan Relating to Coated Specialties Business in Brazil

Monday, 13 May 2013 11:17am EDT

Ahlstrom Oyj announced that its Board of Directors signed on May 13, 2013 a new demerger plan related to Coated Specialties, Ahlstrom's Label and Processing business in Brazil, and cancelled the previous Coated Specialties demerger plan. Under the signed demerger plan, all the assets and liabilities contained in the Ahlstrom Group, that belong to the Coated Specialties business in Brazil, will be transferred to Munksjo Oyj through a partial demerger. The demerger is part of the process through which Ahlstrom's Label and Processing business and Munksjo AB will be combined. The signing of the new demerger plan and cancellation of the previous one were needed since Ahlstrom and Munksjo will not be able to receive all relevant regulatory approvals before May 27, 2013, when the demerger decision made by Ahlstrom's Extraordinary General Meeting of the Shareholders expires. As announced before, Ahlstrom expects to complete the demerger of the Label and Processing business in Brazil during the second half of 2013.

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Analyst Research

Report Title Price
POPE & TALBOT - COMPANY REPORT [BRIEF]
Provider: Brown Brothers Harriman & Co.
$23.00
Buy
DS SMITH - FIRMLY BOXED
Provider: Edison Investment Research
$10.00
Buy
POWERFLUTE OYJ - ALL THE INGREDIENTS
Provider: Edison Investment Research
$10.00
Buy
Pirinhart AD Razlog: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
$20.00
Buy
AUERBACH GRAYSON: West Coast Paper Mills - INITIATING COVERAGE – NO PAPER TIGER (India)
Provider: Auerbach Grayson & Co., Inc.
$50.00
Buy

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