Smurfit Kappa today said it will close its mill at Sturovo in Slovakia as it ceases production there.
The mill has a production capacity of 200,000 tonnes of semi-chemical fluting and currently has a workforce of 350.
The company said it was closing the mill because of excess capacity in the European containerboard market as well as the effects of the global economic downturn, which has dramatically reduced demand.
Other factors include currency swings, and in Smurfit Kappa's view, unwarranted government aid for new recycled capacity additions in Central and Eastern Europe.
Shares in the company closed 12 cent lower at €5.28 in Dublin this evening.
