Stora Enso, an integrated forest products company that manufactures goods such as magazine papers, newsprint, fine papers and packaging boards, announced a decrease in earnings for the second quarter 2001. Sales for the quarter were approximately 7% less than the first quarter of this year.
The company attributed the losses to lowered sales volumes, the result of halting production among many of its mills. Stora Enso's CEO disclosed that despite decreased profits, the downtime will most likely continue for the rest of this year.
