Mar 06, 2009. /Lesprom Network/. Packaging board and paper manufacturer M-real has continued production cuts on a larger scale than originally planned because demand and delivery volumes have remained weaker than estimated in the 1Q of the year, as the Packaging News informed Lesprom Network. In a trading statement, the company said the market price for pulp had continued to strongly decline during the early part of the year, while inventories had increased. As a result, it said it expected operating results for the 1Q of the year to be weaker than in the 4Q 2008. In February, the company said that it had put in place production cuts across the business, including the consumer packaging division, which implemented a 73 thousand tonne cut. It reported a 6% fall in sales to Euro 3.3 billion for 2008, while its pre-tax earnings fell by 40% to Euro 192 million. M-real, part of forestry group Metsäliitto, employs around 6,500 people globally.