South Korea's Jeonju Paper to take further downtime in October

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South Korea's Jeonju Paper to take further downtime in October

October 06, 2014 - 19:40

South Korea's largest newsprint producer, Jeonju Paper, has decided to take further downtime in October at one of their mills in the country to deal with low market demand and dwindling profitability.

It is expected to result in a curtailment of 20,000 tonnes. The firm will use the downtime as an opportunity to carry out maintenance work.

Jeonju Paper will shut three paper machines at the Jeonju mill from October 5 to October 17.

The decision to take downtime is due to slipping demand in the domestic and global markets and to continuously falling newsprint export prices.

Jeonju already took downtime in its two mills during September, curtailing production for the newsprint market by 25,000 tonnes.

The firm may consider taking more downtime in November and December due to higher electricity costs over the winter months.