HELSINKI, Finland, Sept. 12, 2013 (GLOBE NEWSWIRE) -- STORA ENSO OYJ STOCK EXCHANGE RELEASE 12 SEPTEMBER 2013 AT 09.00 EET
Stora Enso's and Arauco's joint-venture pulp mill project Montes del Plata in Uruguay has been expected to begin the mill start-up process at the end of the third quarter of 2013. The mill site is 92% complete and the commissioning of certain areas has already begun. However, the main technology contractors have informed Montes del Plata that they will not be able to complete the work according to the agreed timetable.
Montes del Plata is supporting the contractors and all local stakeholders to expedite the start-up process. The operational EBIT impact of the delay for Stora Enso during 2013 is estimated to be EUR 7 million. A further update on the progress and timetable will be issued when Stora Enso's third quarter results are announced on 22 October.
For further information, please contact:
Lauri Peltola, EVP, Global Identity, tel. +358 2046 21380
Ulla Paajanen-Sainio, SVP, Investor Relations, tel. +358 2046 21242
Kirsi Seppalainen, VP, Communications and Sustainability, Stora Enso Biomaterials,
tel. +358 2046 21444
Stora Enso is the global rethinker of the paper, biomaterials, wood products and packaging industry.We always rethink the old and expand to the new to offer our customers innovative solutions based on renewable materials. Stora Enso employs some 28 000 people worldwide, and our sales in 2012 amounted to EUR 10.8 billion. Stora Enso shares are listed on NASDAQ OMX Helsinki (STEAV, STERV) and Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY) in the International OTCQX over-the-counter market.
STORA ENSO OYJ
Source: Stora Enso Oyj