After 3 quarters 2010 Arctic Paper S.A. recorded a net loss of nearly PLN 6.2 million, which has been communicated previously. The financial result was mainly due to very high prices of pulp and to unfavourable foreign exchange rates. Arctic Paper is working with its previously launched profit improvement plan. During last year Arctic Paper implemented further revenue stimulating initiatives. Price increases have been implemented for its products. The Group is working with cost rationalization activities.

As part of the profit improvement plan, the mill Arctic Paper Munkedals in Sweden intends to reduce staff by approximately 45 employees. Negotiations with the trade unions at the mill have been initiated.

“We expect that Arctic Paper Munkedals will meet its financial targets this year. The mill offers unique high quality products, we are developing new product offers and the Munken brand is well recognized”, says Michał Jarczyński, CEO of Arctic Paper S.A.


About Arctic Paper S.A.:
Arctic Paper S.A. is one of the leading European manufacturers of bulky book paper and graphic fine paper. The group produces high quality coated, uncoated wood-free and uncoated wood-containing papers. The Group’s product portfolio consists of the brands Amber, Arctic, G-Print, Munken, Pamo and L-Print. Production is
carried out at Arctic Paper Kostrzyn, Poland; Arctic Paper Munkedals and Arctic Paper Grycksbo, Sweden, and Arctic Paper Mochenwangen, Germany.

The total production capacity of the Group’s four paper mills is 810,000 metric tonnes of paper per year. The company currently employs 1,650 people across Europe and has sales offices in 15 European countries. Arctic Paper S.A. is listed on the Warsaw Stock Exchange since October 2009.