M-real initiates cost savings and efficiency improvement programme in its Swedish operations
M-real has initiated a programme to enhance productivity and
profitability at Wifsta and Husum mills in Sweden. The target is to
reduce costs by at least SEK 200 million and reach a 15% productivity
increase by the end of the year 2006. An important element in the
programme is the planned integration of Wifsta into Husum organisation.
Negotiations with Labour Unions at M-real´s Wifsta and Husum mills have
been started regarding the actions of the programme.
The programme is part of M-real´s Cost Savings and Efficiency
Improvement programme 2004 - 2006. The final decision and estimate of
potential one-time costs are expected to be made during second quarter
2005.
M-REAL CORPORATION
Corporate Communications
For additional information contact Juhani Pöhö, Chief Financial
Officer, tel. +358 10 469 5283 or Peter Sandberg, Executive Vice
President, Office Papers, tel. +31 20 572 7560
