Stora Enso to Shut Down Swedish Plant; 80 Jobs Affected

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.