Svenska Cellulosa AB (SCA): Closure of production plant
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SCA (STO:SCAA) (STO:SCAB) will close its tissue production plant in Sant Joan de Mediona, Spain. The decision is aligned with the company's strategy to optimize its geographic production footprint in order to drive cost and capital efficiency and further increase value creation in Tissue. SCA remains fully committed to the Spanish market, which is the Group's sixth largest market based on sales in 2015.
The production plant has an annual capacity of 45,000 tons. Production will be discontinued in July 2016.
The restructuring costs for the closure of the production plant are expected to amount to approximately SEK 230m and will be recognized as an item affecting comparability in the second quarter of 2016. Of the restructuring costs, approximately SEK 140m is expected to be recognized as an impairment loss.
SCA is a leading global hygiene and forest products company. The Group develops and produces sustainable personal care, tissue and forest products. Sales are conducted in about 100 countries under many strong brands, including the leading global brands TENA and Tork, and regional brands, such as Libero, Libresse, Lotus, Nosotras, Saba, Tempo, Vinda and Zewa. As Europe's largest private forest owner, SCA places considerable emphasis on sustainable forest management. The Group has about 44,000 employees. Sales in 2015 amounted to approximately SEK 115bn (EUR 12.3bn). SCA was founded in 1929, has its headquarters in Stockholm, Sweden, and is listed on NASDAQ OMX Stockholm. For more information, visit www.sca.com.