M-real initiates two profitability programs.(Box biz: news you can use)(Brief Article)

Helsinki, Finland -- M-real Corp. will begin two profitability improvement programs in Germany and the U.K. The initiatives are part of M-real's $261 million savings and efficiency improvement program launched in early 2004. As part of the M-real Zanders profitability program in Germany, the number of employees will be reduced by 330 from 1,800 by the end of 2006. This will occur at the Gohrsmuehle and Reflex mills. The total annual personnel cost reduction is estimated to be about $26 million b