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.
Manufacturing Manufacture Of Wood And Paper Materials Manufacture Of Wood And Of Products Of Wood And Cork, Except Furniture; Manufacture Of Articles Of Straw And Plaiting Materials 16.10 - Sawmilling and planing of wood
97 - 100 jobs Number of planned job losses
Announcement Date
15 June 2023
Employment effect (start)
15 June 2023
Foreseen end date
31 December 2023
Description
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://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/109206.
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