Stora Enso completes co-determination negotiations at Veitsiluoto site
Stora Enso has completed the co-determination negotiations concerning closing down the pulp and paper production at its Veitsiluoto site in Finland. The closure will take place during the third quarter of 2021. As a result of the negotiations, 550 people will be permanently laid off. Some 28% of the redundancies can be managed through pension arrangements. In April 2021, Stora Enso announced a plan to permanently close down pulp and paper production at its Kvarnsveden and Veitsiluoto sites due to the declining paper market. As a result of the co-determination negotiations regarding the Veitsiluoto site, the three paper machines, chemical pulp and groundwood production, and the sheeting plant will be closed permanently. The sawmill will continue operating at the site within the Wood Products division and employ some 50 persons. Pulp and paper production at Veitsiluoto is estimated to cease during the third quarter of 2021. The co-determination negotiations concerning the Kvarnsveden site in Sweden are still ongoing.