M-real reported an operating loss of 22 million euros in the last quarter after uncertainty in the general economic situation in Europe decreased the delivery volumes especially in the pulp and paper business in the last quarter of 2011.

“Our planned measures to eliminate losses in the paper business are proceeding as planned,” said Mikko Helander, CEO.
 

“In December, the production of coated fine paper at the Äänekoski mill was discontinued and its reel production is moved to the Husum mill. Statutory negotiations concerning the Alizay mill and the speciality paper operations are targeted to be completed in the first quarter of 2012. The proposed discontinuation of these unprofitable operations would improve the company’s profitability considerably.”
 

M-real says its Board of Directors is proposing to the Annual General Meeting convening on 28 March 2012 that the company’s business name changes to Metsä Board Corporation. During the past few years, it has been working to transform itself from a paper company into a profitable paperboard company.