GÖTEBORG, Sweden--(BUSINESS WIRE)--Regulatory News:
In reference to the current report no. 10/2015 dated 28th July 2015 the Management Board of Arctic Paper SA (“Company”) (STO:ARP) informs that today, the 19th of January a further step in the Group’s Profit Improvement Program was taken.
The Management of the Company’s subsidiary Arctic Paper Grycksbo AB has started negotiations with the unions with the aim of reducing fixed costs by 12 MSEK(approx. 5,8 MPLN) in 2016 and annually 25 MSEK(approx. 12 MPLN) from 2017, and to further increase the efficiency of the Grycksbo mill. These measures include the potential reduction of the number of staff by approximately 40 employees during 2016.
This information is disclosed pursuant to Offering Act, article 56, clause 5 – update of insider information, and was submitted for publication on 19 January 2016 at 8:00 am CET, in reference to Arctic Paper’s current report no. 1/2016 filed with the Warsaw Stock Exchange
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