Holmen Capacity Cuts to Take Place in September
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Holmen Paper, Sweden, this week said that its previously announced closures of PM 3 at the Hallsta Paper Mill and PM 51 at the Braviken Paper Mill, both in Sweden, will take place toward the end of September. Capacity will be permanently reduced by 140 000 metric tpy of SC paper and by 200 000 metric tpy of newsprint.
Also, due to conversion and adaptation to the new structure, Holmen Paper will be forced to cut an additional 10% of the company's available capacity in Sweden during the third quarter. The ongoing restructuring program, Holmen notes, "is taking place against the backdrop of considerable losses in the business."
"The extensive capacity cuts announced will gradually lead to a better market balance in 2013," says Henrik Sjölund, head of Holmen Paper.
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