M-Real

Type
Internal restructuring
Country
Sweden
Region
Norra Sverige; Mellersta Norrland; Västernorrlands län
Location of affected unit(s)
Wifsta, Husum
Sector
Manufacturing
(16 - 17) Manufacture of wood and paper materials
17.1 - Manufacture of pulp, paper and paperboard
17.1 - Manufacture of pulp, paper and paperboard
235 jobs
Number of planned job losses
Job loss
Announcement Date
30 June 2005
Employment effect (start)
Foreseen end date
1 June 2006

Description

M-real announced that the Wifsta fine paper mill in Sweden would be integrated into the Husum pulp and paper. Negotiations with trade unions regarding the restructuring plan have already been completed. The aim of the changes is to achieve total annual cost savings of at least €22 million. All in all, the reduction of employees will be 235 by the end of 2006, resulting in an €15 million non-recurring cost.

Sources

  • 30 August 2005: Dagens Industri
  • 30 June 2005: Svenska Dagbladet
  • 30 June 2005: Press release by M-Real
  • 30 June 2005: Sveriges Radio

Citation

Eurofound (2005), M-Real, Internal restructuring in Sweden, factsheet number 61862, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61862.