Company eliminating 60 jobs in Middletown, Ohio

Stora Enso invests EUR 9 million in an automated CLT (cross-laminated timber) coating line at the Ybbs sawmill in Austria. The investment will further strengthen Stora Enso’s position as a leading global provider of engineered wood products for low carbon, sustainable buildings. In the construction industry, there is labor shortage and a pressure to shorten the construction time on-site. The investment enables industrially pre-applied CLT coatings on the CLT walls and floors produced at Stora Enso’s Ybbs site. The automated coating solution results in shorter construction times and higher wood protection. “With this new automation line, we can apply high-quality water-based coating to approximately 500,000m² of CLT walls and floors per year – making us the world leader in this segment. Our customers will benefit from improved protection of CLT against moisture, sunlight, insects and fire, as well as nicely coloured visual surfaces,” says Lars Völkel, EVP Wood Products division.

Production in the Vallvik Mill has been affected by an unplanned shutdown due to disturbances in the bleaching plant and the recovery boiler. Repair work is underway and normal production is scheduled for Wednesday 9 May. The shutdown represents an estimated production loss of about 6,000 tonnes corresponding to approximately 6 percent of the Group's total planned production for the quarter.

Q3/2021 (year-on-year) •Sales increased by 23.9% to EUR 2 577 (2 079) million due to higher prices and deliveries. •Operational EBIT increased to EUR 410 (175) million, driven by higher volumes and prices, especially in Biomaterials, Wood Products and Packaging Materials. •Operational EBIT margin increased to 15.9% (8.4%). •Operating profit (IFRS) increased to EUR 386 (145) million. •Strong cash flow from operations amounted to EUR 485 (399) million. Cash flow after investing activities was EUR 347 (250) million. •Operational ROCE excluding the Forest division increased to 20.0% (7.8%), and was clearly above the long-term target of more than 13%. Q1–Q3/2021 (year-on-year) •Sales were EUR 7 445 (6 400) million. •Operational EBIT more than doubled to EUR 1 102 (532) million.