Finland Times

Friday, 29 March, 2024
Home BUSINESSStora Enso to close unit in India
Print
Tue, 23 Jun, 2015 12:09:30 AM
FTimes – STT Report, June 23
 
File picture of Stora Enso's headquarters in Helsinki. Photo – Lehtikuva.
Wood products and packaging giant Stora Enso announced on Monday plans to permanently shut down the Group’s corrugated packaging converting unit in Chennai, India.
 
In a release, Stora Enso’s plan to shut the unit was due to unprofitability and a major decrease in the local market demand.
 
The mill employs 350 people, who will receive compensation and other support including training, medical care and assistance in finding new employment.
 
The mill closure will involve negotiations with the local employees’ union.
 
The packaging unit in Chennai has been part of Stora Enso since July 2011, following the Group’s acquisition of 51 percent shares in Inpac International in China.
 
Chennai Mill in India produces transport and consumer packaging made of corrugated board, for sale primarily in Chennai and Tamil Nadu region.
 
comments powered by Disqus
More News

 
   
Copyright © 2024 All rights reserved
Developed By -