Stora Enso announced that its Stora Enso North America will implement a $65 million reduction in annual fixed costs through an extension of the profit enhancement program announced last August.
The new program includes a reduction in Stora Enso North America's total workforce of about 12 percent by the middle of 2005.
As part of this initiative, Stevens Point Mill, Wis., paper machine 32, which produces 25,000 metric tons of specialty papers annually, and, as previously announced, Biron Mill paper machine 24, which produces 69,000 metric tons of light-weight coated paper annually, will be permanently shut down Sept. 1. This will remove about 94,000 metric tons of annual capacity.
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