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Share price EUR 149,00 17:35 GMT 02.12.2020
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Realignment of cartonboard and folding carton production at the Hirschwang site

A comprehensive examination of the framework conditions has shown that it is not possible to continue production economically on the board machine in Hirschwang, Lower Austria. The age and design of the machine (year of construction 1952) as well as increased market requirements are hurdles to the continuation. This will affect 150 employees, and talks have already started on a social plan. The supply of customers from other plants of the Mayr-Melnhof Group is assured.

The result of the Cartonboard Division is expected to be impacted by a EUR 25 million charge of which the major part is attributable to write-offs.

The Hirschwang site shall in future concentrate on the existing folding carton production (Neupack) with 215 employees. Investments to strengthen the site in this area are being examined.

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