Sep 10, 2009. /Lesprom Network/. Ence’s net sales amounted to Euro 226.8 million between January and June 2009, which is 32% less than the figure registered in the first half of 2008, the company said in a press release received by Lesprom Network. This corresponds to net losses for the first half of 2009 amounting to Euro 123.7 million. This result was affected by the allocation of a provision of Euro 71.4 million after taxes for the deterioration of the estimated value of the assets sold in Uruguay, according to Ence, as well as the value adjustments of the stock of raw material and finished products amounting to Euro 13.0 million after taxes. The deterioration of the net sales was also driven by revenues from the sale of cellulose amounting to Euro 154.4 million in 1H 2009, 37% down compared to the same period in 1H 2008. In the context of the current market, the ENCE Group is intensifying its efforts to shorten the start-up to full capacity of the carried out projects for expansion with the objective to reduce the consumption of the factory and to accelerate the start of production of the new capacities in particular for the production of pulp with regard to the Navia mill, and for the generation of energy both in Navia and Huelva. These investments, already committed and fully financed, which will allow to increase the renewable energy production significantly, have been complemented by the strengthening of cost cutting programmes, particularly for wood, and reinforcing the management of net working capital, especially for the reduction of purchases and stocks. In cumulative terms, the adoption of this measures, whose economic impact will be materialised in the coming quarters, will push the cash cost down in the next three quarters, to reach levels in the range of Euro 280-300/tn in 4Q 2009.