Stora Enso (SEOAY.PK) said its co-determination negotiations at Tolkkinen Sawmill in Finland have been concluded.
On 19 August 2009 Stora Enso announced plans that included permanent closure of Tolkkinen Sawmill by the end of 2009. The reason for the planned closure has not changed, which is long-term overcapacity in the sawnwood market and limited availability of cost-effective raw material.
Tolkkinen Sawmill will therefore be permanently closed down by the end of 2009. The closure would reduce Stora Enso's number of employees by 41 and its annual production capacity by 260 thousand m3 of sawn wood.
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