06:25 AM EDT, 10/22/2026 (MT Newswires) -- Stora Enso (STEAV.HE, STERV.HE) will permanently close its cross-laminated timber production facility in Gruvön, Sweden, by the end of 2026. The shutdown is expected to impact 80 employees, according to a Thursday release. The renewable packaging materials company will continue change negotiations with the affected staff, with redundancies to be implemented only after the conclusion of the talks. Stora Enso decided to terminate the Gruvön plant's operations due to slower-than-expected market growth, alongside escalating material and production costs.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.