The statutory cooperation negotiations related to the possible closure of the Simpele paper production will be commenced on 24 September. The planned personnel reduction is maximum 80 people, according to M-real.The potential transfer of the production of speciality paper from the Simpele mill in Finland to Gohrsmühle mill in Germany would improve M-real's operating result by approximately four million Euros per year. As a result of the planned Simpele paper machine closure, M-real's Consumer Packaging's fourth quarter result will as non-recurring item include twelve million Euros write offs. Related non-recurring cash costs, if any, will be determined once the negotiations with employees arecompleted, at the latest by 5 November.The planned closure would reduce the European annual speciality paper capacity by about 50,000 tons.“M-real is further focusing its speciality paper business to packaging related grades. The planned transfer of Simpele speciality paper production would strengthen thecompetitiveness of Gohrsmühle mill and improve M-real's profitability. M-real is planning to increase the share of speciality grades in Gohrsmühle further,” explains M-real's CEO, Mikko Helander.