The worst day in the paper industry, so far...

I don't wish to be over dramatic, or a gloomy doom monger, but this news today is the worst that I can ever remember in my career...

I'm not sure the Printweek headline conveys the gravity of the situation. StoraEnso are one of the largest pulp and paper producers in the world and they have announced that they are closing two mills (Veitsiluoto and Kvarnsveden) which account for over 1.3 million tonnes of paper - and that's not including the pulp production that is also going. This is truly dreadful news and sadly includes well over 1,000 job losses.

You can read the full article in Printweek HERE.

https://www.printweek.com/news/article/stora-enso-to-cull-more-capacity-with-radical-mill-closure-plan

You can also read about it in the Financial Times here:

https://www.ft.com/content/921982b6-94f3-46df-ae55-e30985239424

These closures are on top of the fact that StoraEnso pulled out of coated paper production last year with a reduction of 1 million tonnes of two sided coated paper.

Last year I wrote an article on this blog about the state of the industry HERE.

We have dealt with StoraEnso for decades and we feel terrible for those people who are set to lose their jobs. These are incredibly difficult times in the paper industry but sadly inevitable as the ongoing contraction of our industry is set to continue for many years to come.

Posted by Justin Hobson 21.04.2021