Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Stora Enso, a Finnish forest industry group, has announced the closure of a sawmill in Lääne-Virumaa, Estonia, resulting in the reduction of around 100 jobs. The reasons cited for closing the sawmill are reduced availability of raw material, increased costs and low profitability. The sawmill will be closed step-by-step by the end of 2023.
Stora Enso is a Finnish multi-national group with 16 sawmills in 9 countries, with two in Estonia. This closure is part of a broader strategy affecting also Finland, Netherlands and Poland.
Eurofound (2023), Stora Enso, Closure in Estonia, factsheet number 109206, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/109206.