Arctic Paper to Cut Staff at Sweden Mill
 Print this article | Send to Colleague
Arctic Paper, Sweden, reports that as part of its profit improvement plan, and following a net loss of nearly PLN 6.2 million after three quarters of 2010, the company will reduce staff by some 45 employees at its Munkedals mill in Sweden. Negotiations with trade unions at the mill have already been initiated.
"We expect that Arctic Paper Munkedals will meet its financial targets this year. The mill offers unique high quality products, we are developing new product offers, and the Munken brand is well recognized," said Michał Jarczyński, CEO of Arctic Paper.
The company attributes the financial result mainly to "very high prices of pulp and to unfavorable foreign exchange rates." Last year Arctic Paper implemented additional revenue stimulating initiatives, including product price increases.
Arctic Paper is a producer of bulky book paper and graphic fine papers, Its products include coated and uncoated woodfree and uncoated wood-containing papers. Total production capacity of the Group's four paper mills is 810,000 metric tpy. The company currently employs 1,650 people across Europe.
|
|
