Finland's Stora Enso to convert mill to make packaging board


HELSINKI, May 28 (Reuters) - Stora Enso STERV.HE said on Tuesday it would convert its paper mill in Oulu, Finland into a packaging board mill by the end of 2020, involving investment of about 350 million euros ($391 million).

Stora said the investment would increase the group's capital expenditure for 2019 to 610 million to 660 million euros, from a previous estimate of 540 million to 590 million euros.

Stora said it would cut up to 400 jobs at the site.

($1 = 0.8943 euros)

(Reporting by Tarmo Virki Editing by Edmund Blair)

((; +372 564 4562;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.