HELSINKI, Finland, Oct. 21, 2002 (PRIMEZONE) -- Metsa Tissue Corp. is vigorously developing all areas of its business operations.
The aim of the investment and development programme launched for Metsa Tissue's business operations in Germany is to raise converting levels and quality, particularly of consumer products, and to improve the productivity of manufacture by more than a third compared to the present situation.
Converting capacity will be increased by around 15 per cent by developing existing converting lines and by acquiring a new converting line for consumer products. Specialization at the mills will also greatly improve the efficiency of production. Logistic arrangements will be rationalized, including plans to build a rail link to the Kreuzau mill. A range of measures will be introduced to step up product development, including acquisition of a converting line exclusively for product development purposes.
The development programme will require investments totaling around EUR 45 million and will be largely complete by the end of 2004. The programme will also involve substantial staff reductions, and discussions with the various personnel groups have already started. A provision of around EUR 3 million will be made in the final-quarter consolidated accounts to cover the cost of staff reductions.
METSA TISSUE CORP.
Hannu AnttilaPresident and CEO
For more information:
Hannu Anttila, President and CEO tel. +358 10 469 4959, gsm +358 50 2398, and Timo Suuriniemi, Chief Financial Officer tel. +358 10 469 4580, gsm +358 50 560 8271
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