Stora Enso has announced a reduction in paper production capacity (by 35% - to 2.6 million tonnes) by closing two pulp and paper mills in Finland (Kemi) and Sweden (Kvarnsveden). The mills employed 670 and 440 people, respectively.

Helsingin Sanomat reports that the mill closure is potentially the largest such case in Finnish history. Representatives of the Finnish forest sector state that the mill closures will reduce the notional "share of paper production" in annual revenue by almost 10%. The only remaining paper mill in Finland will be the coated and uncoated book paper factory (Inkeroinen).

Stora Enso CEO (Annica Bresky) explained in a press release that this step is not favourable for either the company or its employees, but is considered a necessary adjustment to the rapid decline in demand in the paper market.