EQS-Adhoc: Mayr-Melnhof Karton AG: Reduction of strategic investment and increase in share of renewable energy at MM Kwidzyn, Poland
EQS-Ad-hoc: Mayr-Melnhof Karton AG / Key word(s): Miscellaneous
Mayr-Melnhof Karton AG: Reduction of strategic investment and increase in
share of renewable energy at MM Kwidzyn, Poland
20-Nov-2023 / 12:27 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the
Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS
Group AG.
The issuer is solely responsible for the content of this announcement.
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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 “IPACK^TM 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
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20-Nov-2023 CET/CEST News transmitted by EQS Group AG. www.eqs.com
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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
1777245 20-Nov-2023 CET/CEST
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