M-real starts statutory negotiations

M-real starts statutory negotiations concerning all mills in Finland with the target to adapt the production for low volumes by temporary layoffs and working time arrangements.All in all, the negotiations concern approximately 1.200 people. Possible actions will be decided locally at the mills. “End demand of board seems to be at normal level, and the reduced board deliveries seem to be a result of continuing inventory reduction in different parts of the delivery chain. Long-term demand and profitability outlook for board continues good, but M-real will in short-term prepare for low delivery volumes by enabling temporary layoffs at the Finnish mills,” said Mikko Helander, CEO of M-real. /AA