Product category:
Printing Substrates - Paper, Forms and Stationery
News Release from: M-real
Edited by the Printingtalk Editorial
Team on 17 February 2004
UK Redundancies Expected At Paper
Producer
Poor 2003 profits and anticipated negative results for 2004 have been cited for planned UK paper manufacturing redundancies.
Poor 2003 profits and anticipated negative results for 2004 have been cited for planned UK paper manufacturing redundancies The Finnish paper producer M-real has said it will make redundancies amongst its 2,000 UK staff in cost cutting measures to save over £136m by 2006
This article was originally published on Printingtalk on 24 Jun 2004 at 8.00am (UK)
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Two new publications launched in tandem with Marks and Spencer's new Lifestore retail venture both use paper from M-real, one of Europe's leading suppliers of fine papers for publishing and graphics.
The company added that its logistics, sales, marketing, purchasing and production operations are likely to be effected.
At the same time it has not announced any figures or said where cuts will be made.
The company employs over 19,600 staff in total.
All of M-real's businesses felt the pinch in the 12 months until the end of December 2003, although its Map Merchant paper merchanting division fared better.
The company commented that whilst the industry showed some signs of improved economic growth, the paper and paperboard market were not feeling the benefits.
It is believed that the company plan price increases from March 1 2004.
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