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(11/14/2014 / sha)
+++ IMPORTANT +++
UPM: Plans to reduce 800,000 t of publication paper capacity
UPM is introducing a new profit improvement target with an annualised impact of EUR 150 million by the end of 2015. The target includes savings in variable and fixed costs in all UPM businesses as well as planned capacity closures in the European paper business, which continues to suffer from overcapacity.
UPM is planning to permanently reduce its publication paper capacity in Europe by further 800,000 t approximately. UPM plans a permanent closure of: newsprint machine 3 at UPM Chapelle in France,
newsprint machine 1 at UPM Shotton in the UK, SC paper machine Jämsänkoski 5 at UPM Jämsä River Mills in Finland and coated mechanical paper machine 2 at UPM Kaukas in Finland.
In addition, the company plans to centralise UPM Paper ENA supply chain planning and order fulfillment activities to Augsburg and Dörpen in Germany.
If all the plans to close capacity would be implemented, UPM’s personnel at the mills would be reduced by approximately 550 persons by the end of 2015. All four mills will continue paper production on the remaining paper machines on the mill sites.
