Stora Enso is set to shut down its corrugated packaging plant in Heinola, Finland, and transfer the company's manufacturing activities to its plant in Lahti.
The decision comes after the company announced plans in September to consolidate its production at plants located across Finland.
Stora Enso Division Packaging Solutions Corrugated Nordics SVP and head Peter Torstensson said: “The plan to potentially consolidate our corrugated operations in Finland is largely driven by the need to improve profitability and strengthen our competitive edge.
“In addition to the planned investment, our strong infrastructure in Lahti would provide us with a world-class asset base to better serve our customers.
A total of 47 employees will be affected by the plant closure.
Under the consolidation plan, Stora Enso will also invest around €19m to purchase new machinery and supporting infrastructure for its Lahti site.
The plan is scheduled to be finalised by the first quarter of 2018, with an aim to boost profitability and competitiveness at Lahti.
The company will continue to operate its corrugated packaging facility at Kristiinankaupunki and containerboard production at Heinola Fluting Mill.
Stora Enso provides renewable solutions for packaging, biomaterials, wooden constructions and paper markets worldwide.
With operations in more 35 countries, Stora Enso aims to replace fossil-based materials with new products and services based on wood and other renewable materials.