Thursday 02. April 2009
Stora Enso CEO Jouko Karvinen’s message to shareholders at the Company’s AGM
“Stora Enso faced high cost inflation, especially in wood and energy costs, throughout the whole of 2008. The markets were firm during the first half, but towards the end of the year they started to deteriorate rapidly. We took swift action, curtailing paper and board production by 15% already in the fourth quarter. We have since stepped up the curtailments to an estimated about 20% in the first quarter of 2009 to safeguard our operating cash flow,” said CEO Jouko Karvinen.