Billerud has announced notice of dismissal for 125 employees at its three Swedish mills – Gruvön, Skärblacka and Karlsborg – and at the head office in Solna.
Saying it must adapt its costs to meet the weak economic climate and the decline in orders, the company has also implemented a complete prohibition on the use of consultants and external contractors for work that can be performed by its own staff.
Billerud’s results for the period January-September 2008 showed a net turnover increase of 7 per cent compared to the corresponding period last year, and an operating profit of SEK454 mn. But the company says market demand has continued weakening.
CEO Per Lindberg comments: “We have delivered a good result given the current conditions.
The economic downturn continued during the third quarter and affected demand on most of our product markets. The largest part of the market weakening is related to sack paper and general demand for market pulp with lower volumes for sack paper and decreasing prices for pulp.
“Our efforts aimed at reducing costs, developing products and working close to end customers continue and will become increasingly important as the market situation worsens.”
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