Stora enso newsprint capacity will be proposed to cut 475000 tons

Beijing time on February 5 evening news, Finland paper giant Stora Enso Stora Enso Oyj will be announced on Tuesday that permanent close to the two units in Swedish news paper machine, thus will the European newsprint production cut 475000 tons, or 3.4%.

The company also released its 2012 earnings in the fourth quarter, the revenue increased slightly, but warned that the weak paper and lumber market will be in the first quarter of this year to profit form pressure.

Stora enso said, will be in the second quarter of this year permanent closed Sweden Hylte mill's 2 paper machine, and Kvarnsveden mill's PM11 number paper machine, thus will newsprint annual production capacity of 475000 tons of cut, equivalent to 3.4% of the European newsprint capacity.

The company the first four seasons last year from the same period last year net profit of $98.7 million of 262 million euros and operating profits from the same period last year to 170 million euros 251 million euros, below market expectations. Revenue from the same period last year to 2.68 billion euros 2.73 billion euros, slightly better than market expectations. 

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