Montes del Plata Pulp Mill Startup Delayed
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Stora Enso (Helsinki, Finland) and Arauco, Santiago, Chile, report that the startup of their joint-venture Montes del Plata pulp mill project in Uruguay is being delayed. Startup of the mill was expected to begin at the end of the third quarter of 2013, but the main technology contractors have informed Montes del Plata that they will not be able to complete the work according to the agreed timetable. The mill site is 92% complete and the commissioning of certain areas has already begun.
Montes del Plata is supporting the contractors and all local stakeholders to expedite the startup 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 October 22.
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