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.
M-Real, a Finnish paperboard and paper producer, has announced redundancies of up to 180 workers at its paper mill in Äänekoski. The company has entered negotiations with the employee representatives on the cuts.
M-Real, part of forest industry group Metsäliitto, is closing down a paper machine in Äänekoski while expanding boxboard production there. The machine in question has been producing coated fine paper, which according to M-Real suffers from weak profitability caused by overcapacity. The company is concentrating its fine paper production to its plant in Husum, Sweden.
UPDATE, 22/12/2012 - M-Real has concluded statutory negotiations at the Äänekoski mill in Finland. The company is to close the Äänekoski paper machine by the end of 2011 with the loss of 169 jobs. The mill's sheeting capacity will be converted fully to folding boxboard while the Äänekoski paper machine's reel production will be transferred to Husum.
Eurofound (2011), M-Real, Internal restructuring in Finland, factsheet number 72669, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72669.