Stora Enso’s and Arauco’s joint-venture pulp mill project Montes del Plata in Uruguay has been expected to begin the mill start-up process at the end of the third quarter of 2013. The mill site is 92% complete and the commissioning of certain areas has already begun. However, the main technology contractors have informed Montes del Plata that they will not be able to complete the work according to the agreed timetable.
Montes del Plata is supporting the contractors and all local stakeholders to expedite the start-up process. The operational EBIT impact of the delay for Stora Enso during 2013 is estimated to be EUR 7 million. A further update on the progress and timetable will be issued when Stora Enso’s third quarter results are announced on 22 October.