MAYR-MELNHOF KARTON AG (FRA:MYM) EQS-Adhoc: Mayr-Melnhof Karton AG: Reduction of strategic investment and increase in share of renewable energy at MM Kwidzyn, Poland
Transparency directive : regulatory news
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EQS-Ad-hoc: Mayr-Melnhof Karton AG / Key word(s): Miscellaneous Due to uncompetitive wood prices from the Polish State Forests’ monopoly and low market demand across paper and board products, the company decided to significantly reduce the planned multiannual strategic investment project at MM Kwidzyn relating to energy, further pulp integration and the product range, which was announced end of April 2023. Instead, MM Kwidzyn will focus its investments on increasing its already high share of renewable energy of currently 69 % even further. In addition, the company has entered in consultations with trade unions and work council on a potential closure of the small packaging kraft paper machine (PM 3) and a reorganisation, which may include collective dismissal of around 110 employees. MM Kwidzyn will continue with unchanged production of pulp and virgin fibre-based cartonboard. Regarding the paper production, paper machines PM 1 and PM 2 will continue to produce up to 360 kt/year uncoated fine paper and 40-80 kt/year “IPACKTM Strong Pro” (packaging kraft paper). Since the rebuild of one of the uncoated fine paper machines has been put on hold, sack kraft paper will not be produced in Kwidzyn. End of Inside Information
20-Nov-2023 CET/CEST News transmitted by EQS Group AG. www.eqs.com |
| Language: | English |
| Company: | Mayr-Melnhof Karton AG |
| Brahmsplatz 6 | |
| 1040 Wien | |
| Austria | |
| Phone: | 0043 1 501 36 91180 |
| Fax: | 0043 1 501 36 91391 |
| E-mail: | investor.relations@mm.group |
| Internet: | www.mm.group |
| ISIN: | AT0000938204 |
| WKN: | 93820 |
| Indices: | ATX |
| Listed: | Regulated Unofficial Market in Berlin, Frankfurt (Basic Board), Munich, Stuttgart, Tradegate Exchange; Vienna Stock Exchange (Official Market) |
| EQS News ID: | 1777245 |
| End of Announcement | EQS News Service |
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1777245 20-Nov-2023 CET/CEST