Munksjö plans to further adjust the cost structure and books non-recurring costs

Munksjö plans to further adjust the cost structure and books non-recurring costs

Munksjö plans to further adjust the cost structure and books non-recurring costs
Helsinki, Finland, 2015-09-10 16:30 CEST (GLOBE NEWSWIRE) --
MUNKSJÖ OYJ, STOCK EXCHANGE RELEASE 10 September 2015 at 4:30 p.m. CEST

Munksjö plans to further adjust the cost structure and books non-recurring costs

Munksjö plans to further adjust its cost structure. The plan includes
restructuring actions that require personnel negotiations at the production
facility located in Mathi, close to Turin in Italy.

With the planned restructuring, Munksjö aims to further adjust the cost
structure and improve the operational efficiency of Business Area Release
Liners. The production facility in Mathi is a shared site with Ahlstrom
Corporation. The headcount reduction related to the restructuring project is
expected to be around 45 employees. Munksjö currently has around 270 employees
in Italy. The restructuring is subject to consultation and approval processes
in accordance with local legislation.

The expected annual cost savings of the restructuring amount to approximately
EUR 2.0-2.5 million. Munksjö expects to attain the full profitability effect of
the planned cost savings gradually during 2016. Related to the restructuring in
Mathi, other efforts to adjust the cost structure and other reorganisation
activities, Munksjö will book non-recurring costs of approximately EUR 5
million in the third quarter of 2015.

As communicated in November 2014, Munksjö's EBITDA margin target of 12 per cent
over a business cycle is planned to be achieved through efforts and initiatives
including; continued organic growth, reinforced market positions in existing
product segments, strengthened positions in emerging markets, continued
adjustments of the cost structure, measures to improve efficiency in production
and further develop the technical service offering. The ambition is to reach
the profitability target at the end of 2016.

Munksjö Oyj


For more information, please contact:

Jan Åström, President and CEO, tel. +46 10 250 1001
Daniele Borlatto, EVP and President Release Liners, tel. +39 011 9260 193
Laura Lindholm, Investor Relations Manager, tel. +46 (0) 72 703 6336

 

Made by Munksjö - Intelligent paper technology

Munksjö is a world-leading manufacturer of advanced paper products developed
with intelligent paper technology. Munksjö offers customer-specific innovative
design and functionality in areas ranging from flooring, kitchens and
furnishings to release papers, consumer-friendly packaging and energy
transmission. The transition to a sustainable society is a natural driving
force for Munksjö's growth as the products can replace non-renewable materials.
This is what "Made by Munksjö" stands for. Given Munksjö's global presence and
way of integrating with the customers, the company forms a worldwide service
organisation with approximately 2,900 employees and 15 facilities located in
France, Sweden, Germany, Italy, Spain, Brazil and China. Munksjö's share is
listed on Nasdaq in Helsinki and Stockholm. Read more at www.munksjo.com.

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