Figures at Stora Enso were also up at Euro 1,151 million. Investments in the industry largely strayed away from major capacity expansions and focused on improving productivity and quality, simplifying operations and rationalizing maintenance practices. But Modo Paper announced it would invest SEK 2 billion in new coating operations and an upgrade of PM 8 at the Husum mill in Sweden. The machine is to be equipped with four coating stations, two for pre-coating and two for top coating as well as a calender. The Swedish economy has been in better shape lately than for several years.
Inflation is low, growth is strong and the industrial climate is acceptable.
On the other hand, taxes remain high. To join or not to join is the question that Sweden faces over the euro. The forest products companies and their employees are overwhelmingly in favor of joining the monetary union. Public opinion is more or less evenly split on the issue. According to a decision taken at a recent Social Democrat Congress, the matter will be settled by national referendum in the second quarter of 2001 at the earliest.