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HEADLINE NEWS
UUPM’s Q1 profitability improved quarter on quarter
28.04.2012
UPM’s Q1 profitability improved quarter on quarter, continued strong operating cash flow. H1 2012 operating profit estimated to be slightly higher than in H2 2011 Earnings per share excluding non-recurring items were EUR 0.22 (Q1/2011: 0.32), and reported EUR 0.22 (0.33) EBITDA was EUR 347 million, equating to 13.4% of sales (379m, 16.1%) Variable costs decreased and the cost synergies of Myllykoski began to be visible Operating cash flow was EUR 210 million (166 million), net debt reduced by EUR 136 million since year-end 2011.
UPM sells 11% of Metsä Fibre shares to Metsäliitto
20.04.2012
With reference to the call option notice which UPM received from Metsäliitto Cooperative on 17 April 2012, UPM will complete the transaction and sell its 11% share in Metsä Fibre Oy (formerly Oy Metsä-Botnia Ab) to Metsäliitto Cooperative for EUR 150 million. The transaction will be completed on 24 April 2012.
UPM to launch an ecological UPM SwanBarrier range papers
13.04.2012
UPM is to launch a new ecological UPM SwanBarrier range of papers for dry and greasy food wrappings. The barrier properties - such as water vapour barrier and medium grease resistance - of the new papers have been achieved without any PE-coating or fluorochemicals. This means UPM BarrierSwan range is fully recyclable and biodegradable. These innovative papers are a result of UPM’s persistent Research & Development.
Restructuring plans in sawn timber businesses
12.04.2012
UPM is to clarify the strategy of its Timber and Living business areas and plans to restructure production operations in Finland. The plan includes the possible closure of production at the Kajaani sawmill and Heinola and Aureskoski further processing plants by the end of 2012. Selling the production units is an option to closing them.
WWF and UPM Raflatac cooperate to rescue Oder River
04.04.2012
WWF and UPM Raflatac have started cooperation to protect the Oder River Valley in Poland. UPM Raflatac supports WWF’s valuable work in the Rivers for Life project, which aims at protecting the river’s wildlife and improving safety of the people living in the valley. UPM Raflatac’s labelstock factory is located in the Oder River Valley in Poland and UPM’s paper mill downstream in Schwedt, Germany.
UPM-Kymmene Corporation's AGM on 30 March 2012
04.04.2012
At the Annual General Meeting of UPM-Kymmene Corporation, held on 30 March 2012, the financial statements of the company for 2011 were approved and the members of the Board of Directors and the President and CEO were discharged from liability for the financial period of 1 January – 31 December 2011. According to the proposal of the Board of Directors, a dividend of EUR 0.60 per share will be paid.
Björn Wahlroos to continue as Chairman of UPM’s Board
04.04.2012
At the organisation meeting of UPM-Kymmene Corporation's Board of Directors, Mr Björn Wahlroos was re-elected as Chairman, and Mr Berndt Brunow was re-elected as Deputy Chairman.
UPM ProFi in cooperation with Tom Dixon
27.03.2012
UPM ProFi is supporting British design company Tom Dixon at MOST, during the Salone Internazionale del Mobile in Milan in April. As part of the MOST exhibition, Tom Dixon will present ‘Luminosity’, a showcase where the company has used UPM ProFi Deck and UPM ProFi Facade wood plastic composite to create imaginative spaces. This is the second such partnership between UPM and Tom Dixon.
Rebuild of biological effluent treatment plant at Pietarsaari pulp mill
23.03.2012
UPM will rebuild the effluent treatment plant at its Pietarsaari pulp mill in Finland. The approximately EUR 30 million investment, which includes a new preliminary clarifier, an aeration basin and also a pumping station and compressor house, will be competed at the end of 2013. The rebuild of the effluent treatment plant will reduce the mill’s environmental impact and also enable further development of the mill in future.
UPM Raflatac begins operations in Buenos Aires
23.03.2012
UPM Raflatac has opened a new slitting and distribution terminal in Buenos Aires, Argentina. The terminal began operations in early March and will supply both paper and film labelstocks to local customers. The Argentina terminal complements UPM Raflatac’s service network in South America, comprising a labelstock factory in Rio de Janeiro and a slitting and distribution terminal in Jaguariúna, Brazil.
World’s first biorefinery producing wood-based biodiesel
05.02.2012
UPM is to invest in a biorefinery producing biofuels from crude tall oil at the UPM Kaukas mill site in Lappeenranta, Finland. The industrial scale investment is the first of its kind globally. Some 100,000 tonnes of second generation biodiesel for transport will be produced annually. Construction will begin in summer 2012 and finish in 2014. The investment will total some EUR 150 million.
Combined heat and power plant to be built at UPM Schongau
05.02.2012
UPM is continuing to invest in efficient energy generation and is building a new combined heat and power plant at the UPM Schongau mill in Germany. The target is to significantly reduce energy costs as well as to secure the energy supply. The total investment is EUR 85 million.
Financial Statements 2011
05.02.2012
October–December 2011: Earnings per share excluding special items were EUR 0.16 (0.27), and reported EUR 0.20 (0.28) EBITDA was EUR 301 million, 11.2% of sales (318 million, 13.5% of sales) January–December 2011: Earnings per share excluding special items were EUR 0.93 (0.99), and reported EUR 0.88 (1.08) EBITDA was EUR 1,383 million, 13.7% of sales (1,343 million, 15.0% of sales)
UPM sells packaging paper assets to Swedish company Billerud
05.02.2012
UPM is selling its packaging paper production to the Swedish company Billerud. The transaction includes two packaging paper machines: one in Pietarsaari and one in Tervasaari, Finland. The value of the deal is EUR 130 million. The transaction is subject to regulatory approval. The personnel of the packaging paper business will transfer to Billerud as so-called old employees.
UPM Silvesta Oy’s co-determination negotiations completed
27.01.2012
UPM Silvesta Oy’s co-determination talks begun in December 2011 have ended. The Board of UPM Silvesta decided to reduce the personnel by 69 employees. Many of these have the possibility to take advantage of various retirement schemes. UPM Silvesta is specialised in forestry work.
Timber and further processing businesses
27.01.2012
UPM has ended the co-determination negotiations begun in December concerning production curtailments in the first quarter of 2012 and intensification of sawn timber and further processing production. Employees will be cut back at Aureskoski and Kaukas, in Finland, and at Pestovo, in Russia. Production will be curtailed at all UPM’s sawmills and further processing mills, apart from the Heinola mill.’
Albbruck paper mill to be closed down permanently
17.01.2012
UPM will permanently close down the unprofitable Albbruck paper mill in Baden-Württemberg, Germany. The co-determination discussions did not lead to a solution for continuing operations at the mill. The closure of the mill will affect 508 employees. The mill’s sheeting lines will be transferred to the company’s paper mill in Plattling, Germany.
UPM sells its RFID business to SMARTRAC
30.12.2011
UPM has reached an agreement with SMARTRAC N.V. whereby UPM will sell its RFID business to SMARTRAC. UPM will become an indirect shareholder of SMARTRAC with a 10.6 percent interest through the company OEP Technologie B.V. The closing of the deal is expected to take place during the first quarter of 2012. The transaction is still subject to regulatory approvals.
Competence centre for eucalyptus research in Uruguay
21.12.2011
UPM will strengthen its research on eucalyptus fibre and build a competence centre at the Fray Bentos pulp mill in Uruguay. The new centre, including expansion of the existing laboratory facilities, will be operational during the first half of 2012. The new competence centre will focus on the research of eucalyptus species and their impact on end product properties.
Sustainable model house made of spruce plywood
21.12.2011
UPM has supported a project by the Danish architects Eentileen.dk to build an innovative wooden villa in Denmark using UPM’s WISA-Spruce plywood. The house incorporates sustainable thinking and efficient structural engineering. The structures were designed using computer simulation and were made with a CNC machine. Only two people were required for the actual construction work.
UPM to build new head office in Töölönlahti area, Helsinki
18.12.2011
UPM is constructing a new head office in the Töölönlahti area of Helsinki. The building permit application was submitted on 12 December. Due to be completed in 2013, the building will be owned by a real estate company, while UPM will be a long-term tenant.
UPM’s Jussi Pesonen to chair CEPI
14.12.2011
The Confederation of European Paper Industries (CEPI) is pleased to announce the appointment of Jussi Pesonen as the next CEPI Chairman. Mr Pesonen is the CEO of UPM-Kymmene Corporation. He will start his chairmanship on 1 January 2012. Mr Berry Wiersum, the current CEPI chairman, will assume the post of Vice-Chairman for the next two years to guarantee a smooth transition.
UPM to close down paper machine and restructure in Germany
11.12.2011
UPM will permanently close down paper machine 3 at the Ettringen paper mill on 14 December 2011 as being uncompetitive. In addition, overlapping operations are being restructured in the supply chain, paper sales and functions at the Ettringen, Plattling and Hürth mills. The negotiations on the reduction of personnel have, with the exception of Albbruck, been concluded at the German units.
UPM to participate in bidding and engineering phase of OL4
11.12.2011
UPM’s participation in the bidding and engineering phase of the Olkiluoto 4 nuclear power plant unit of Teollisuuden Voima Oyj (TVO) is confirmed. TVO’s Extraordinary General Meeting decided today to start the first phase. UPM’s share of the financing − corresponding to its share of the ownership in TVO through Pohjolan Voima Oy − is about EUR 90 million and will be allocated over several years.
UPM started pre-commercial production of fibril cellulose
18.11.2011
UPM began fibril cellulose product development in 2008. Pre-commercial production began this autumn at Otaniemi, Espoo, Finland. UPM can now provide different types of fibril cellulose for extensive customer testing. UPM’s fibril cellulose provides new properties and design options for traditional materials; it can be used to make products tougher, lighter or thinner, depending on the application.
Telko launches resale of UPM ForMi composite
18.11.2011
UPM and Telko have signed a distribution agreement for UPM's new composite product UPM ForMi. Telko will sell the natural fibre composite developed by UPM through its global distribution network to the furniture, automotive and electronics industries and to plastic companies that manufacture consumer products.
UPM to close Myllykoski paper mill
07.11.2011
UPM will permanently cease production at the Myllykoski paper mill by the end of this year. It will also trim overlapping operations in paper sales, the supply chain and its functions in Finland. UPM will begin a programme called "From Job to Job" to support its employees. The personnel cuts will affect 371 people at the Myllykoski paper mill and 21 at Myllykoski Corporation and Myllykoski Sales Nordic.
New composite to replace plastic
02.11.2011
UPM has developed a new composite for both industrial and consumer end-uses. The new composite is made from virgin wood fibres and clean plastic polymers. The proportion of wood fibres varies from 20 to 60 per cent depending on the end-use. The new composite is ideal for making electronic and automotive components or even for furniture, tableware and other goods for everyday living.
UPM to participate in financing of OL4’s engineering phase
02.11.2011
UPM will participate in the bidding and engineering phase of the Olkiluoto 4 nuclear power plant unit of Teollisuuden Voima Oyj (TVO), in the event that TVO decides to commence the phase. UPM would participate in the financing in line with its share of ownership in TVO through Pohjolan Voima Oy.
UPM prepares to adjust plywood production in Finland
01.11.2011
UPM plans to adjust production in the Finnish plywood mills according to the weakening market situation. The company is starting co-determination negotiations with the personnel on lay-offs of up to 90 days in the Joensuu, Jyväskylä, Ristiina and Savonlinna mills. The economic uncertainty in Europe, together with the seasonal decline in plywood demand, has weakened UPM Plywood’s order stock.
Interim report for January–September 2011
28.10.2011
• Earnings per share, excluding special items, were EUR 0.77 (0.72), and reported EUR 0.68 (0.80) • EBITDA was EUR 1,082 million, 14.7% of sales (EUR 1,025 million, 15.6% of sales) • Myllykoski acquisition was completed and a major restructuring plan announced • Balance sheet is strong, even after the Myllykoski acquisition
New central archive with 14 kilometres of shelf space
23.10.2011
UPM’s new central archive in Valkeakoski will be completed by the turn of the year. It will function as a central repository for the archives of all UPM’s places of business and comprise a total of 14 kilometres of shelf space. The archive shelves house an important part of the history of the forest industry in Finland and include material on all of UPM’s parent companies since the 18th century.
UPM composite decking in Japan’s earthquake area
21.10.2011
UPM has donated its UPM ProFi Deck composite to architect Shigeru Ban’s temporary housing project for Japan’s earthquake victims. The multi-storey temporary houses are being built in the town of Onagawa, north-east Japan. This area was one of the worst hit by the tsunami in spring 2011. The housing project will provide homes for almost 200 families.
Q3 operating profit weakened
18.10.2011
Q3 operating profit excluding special items was EUR 137 million. UPM’s pulp deliveries and fine paper deliveries in Europe during Q3 2011 were lower than expected and had a negative impact on the company’s operating profit. Fine paper demand continued to be low in Europe. However, stable demand continued in publication papers and the integration of Myllykoski and Rhein Papier proceeded well.
UPM Raflatac opens a terminal in Moscow, Russia
28.09.2011
UPM Raflatac has opened a new slitting and distribution terminal in Moscow, Russia. The new terminal will supply the local labelling market with high-quality film and paper labelstock. The terminal started operations in September and will serve customers in the Moscow region. This is Russia’s biggest labelstock market, where high demands are placed on quick delivery.
UPM awarded FSC certificate for company’s forests in Finland
27.09.2011
UPM is the first Finnish company to be awarded a certificate for complying with the new FSC standard. The FSC certificate covers around half of UPM's forests in Finland. UPM's forests have previously been awarded a PEFC certificate. The first UPM products manufactured from FSC-certified Finnish fibre will be available on the market in autumn 2011.
UPM completed the acquisition of M-real’s holding in Myllykoski Paper Oy
27.09.2011
UPM’s has completed the acquisition of M-real Corporation’s 35% holding in Myllykoski Paper Oy and the capital loan M-real has granted to Myllykoski Paper Oy for a total of EUR 10.5 million. All relevant regulatory authorities have approved the transaction.
Young people promote the wellbeing of forests
13.09.2011
The international Act Now! Forests For Future conference focusing on the state of the world's forests will take place in Joensuu, Finland from 13–17 September. Thousands of participants from 60 countries are expected. The is one of the key events of the UN’s International Year of Forests. The conference, in which UPM will actively participate, is organised by the ENO Association. UPM is a supporting member.
Co-determination negotiations start at UPM Myllykoski
13.09.2011
Co-determination talks between the employer and various personnel groups concerning UPM’s Myllykoski mill (Myllykoski Paper Oy) started on 9 September 2011. Topics include negotiations on the financial and production-related grounds and the measures planned to adjust the capacity of the UPM paper business and to restructure operations.
New UPM products at the Habitare exhibition
11.09.2011
UPM’s latest business, UPM Living, will launch new products at the Habitare exhibition at Helsinki Fair Centre next week. UPM is launching a new type of collaboration with the Living Designer Pool to introduce new products and services. Puuinfo stand 6h69. UPM’s formable UPM Grada plywood, based on composite technology, will be showcased at Habitare at the Isku stand 7n19.
UPM Plywood starts co-determination negotiations
1.09.2011
UPM Plywood plans to clarify its operations model and to streamline the organisation. UPM Plywood is starting co-determination negotiations on restructuring its staff and sales functions and mill maintenance in Finland. Restructuring would reduce UPM Plywood’s personnel in staff functions and sales by a maximum of 75 persons and in mill maintenance in Finland by a maximum of 50 persons.
UPM plans to reduce paper capacity in Europe
1.09.2011
As part of the Myllykoski transaction, UPM has completed a comprehensive review of the long-term competitiveness of its publication paper mills. As a result of the review, UPM plans to adjust its magazine paper capacity to match the needs of its customer base. Therefore, UPM will start negotiations with employees on the plan to permanently reduce 1.2 million tonnes of magazine paper capacity in Finland, Germany and France, and 110,000 of newsprint capacity in Germany. Read more here.
UPM Living − interior decoration and building materials
18.08.2011
The further processed products business that was separated from UPM Timber in June has been named UPM Living. It manufactures wood-based products for interior decoration and high-quality building materials for gardens and homes for consumers and industry. UPM Timber will focus on serving sawn timber customers in industry and construction. UPM Living consists of three segments: Home, Garden and House.
UPM to establish four jointly owned forests
15.08.2011
UPM is establishing four regional, jointly owned forests around Finland close to the company’s wood-intensive mills. In all, some 2,000 hectares of the company’s forest properties will be used as initial capital. Through this, UPM is furthering active forest ownership, thus improving the regular supply of wood to the market and the profitability of forestry. The aim is also to prevent the fragmentation of properties.
Designer Tom Dixon describes his relationship to paper
15.08.2011
The book entitled Extremism, the fruit of collaboration between UPM and designer Tom Dixon, was launched at the Milan Design Exhibition this year. UPM has published on its YouTube channel two video interviews in which Tom Dixon discusses his thoughts on design today and on paper and its role in design and society. See the videos on www.youtube.com/upmdotcom
UPM issues five million new shares
08.08.2011
UPM issues five million new shares to the direct and indirect owners of Myllykoski Oyj and Rhein Papier GmbH at a subscription price of EUR 10.84 per share. The subscription price for the new UPM shares was paid by contribution of subordinated loan notes of Rhein Papier GmbH to UPM.
UPM's acquisition of Myllykoski completed
08.08.2011
UPM has completed the acquisition of Myllykoski Oyj and Rhein Papier GmbH ("Myllykoski"). The EU Commission approved the acquisition on 13 July 2011. Myllykoski Oyj and Rhein Papier GmbH consist of seven publication paper mills in Germany, Finland and the United States. Their total annual paper production capacity is 2.8 million tonnes.
UPM reports solid Q2 result
08.08.2011
Q2/2011 • Earnings per share were EUR 0.56 (0.33), excluding special items EUR 0.26 (0.29) • EBITDA was EUR 372 million, 15.4% of sales (353 million, 15.9% of sales) • Strong operating cash flow at EUR 280 million (102 million) • Took a major strategic step by completing the Myllykoski acquisition on 1 August 2011
UPM Shotton unveils new materials recovery facility
07.07.2011
UPM Shotton’s new materials recovery facility in North Wales was inaugurated on 8 July 2011. The facility has the capacity to process 270,000 tonnes of comingled material, which will be sorted and screened and used to produce high-quality material for further processing. 120,000 tonnes of recycled paper will be recovered for paper making at the Shotton site.
Architectural concept for pavilion chosen
30.05.2011
The architectural concept for the temporary pavilion forming the key meeting place of World Design Capital Helsinki 2012 has been chosen. The pavilion will be built in spring 2012 in an empty lot between the Museum of Finnish Architecture and the Design Museum. The panel of judges has chosen for further development the Museopolku (Museum Path) design by Pyry-Pekka Kantonen, a student at Aalto University’s Department of Architecture.
Coated fine paper sheets from UPM Kymi Mill
25.05.2011
UPM will begin the production of coated fine paper sheets at its Kymi Mill in Kouvola in autumn 2012. The expansion of the Kymi Mill finishing room will begin in autumn 2011. The expansion will cost approximately €15 million. The project includes a new sheeting, ream wrapping and pallet packaging line. Technical changes related to the handling of the reels of paper machine 8 will also be made.
upmpaper.com Your home page for paper. Coming soon...
25.05.2011
This summer UPM will publish a new website focusing on the wide range of UPM Papers. The public website serves as a gateway to the renewed extranet that provides the customers with a more transparent supply chain, detailed data content and new interesting features.
UPM pioneers in renewed EU's environmental management system
25.05.2011
UPM is one of the very first companies to achieve multinational corporate registration under the revised EMAS III regulation, the EU's Environmental Management and Auditing Scheme. UPM's corporate registration includes 15 pulp and paper mills in five EU countries and all data is third party verified.
Schoolchildren plant trees in UK, Uruguay and Finland
25.05.2011
UPM participates in ENO – Environment Online’s Tree Planting Day on May 20 in United Kingdom, Uruguay and Finland. The annual event is part of UPM’s partnership with ENO, a global virtual school and network for sustainable development. ENO has been running since 2000 and reached thousands of schools in 150 countries.
Design Capital’s meeting place made from UPM’s wood products
18.05.2011
A key meeting place of the World Design Capital Helsinki 2012 will be a pavilion set in an empty lot between the Museum of Finnish Architecture and the Design Museum. The design of the pavilion seeks a bold solution communicating the potential of wood construction in the WDC. The wood construction materials will be supplied by UPM, the main corporate partner of WDC Helsinki.
UPM Raflatac closes acquisition in Brazil
11.05.2011
UPM Raflatac has closed its acquisition of Gumtac, the Brazilian labelstock coating and slitting business of the BIC Group. The acquisition was announced in February 2011. Gumtac employs approximately 35 people in its operations in Rio de Janeiro.
UPM to partner with World Design Capital Helsinki 2012
10.05.2011
UPM will partner with the World Design Capital Helsinki 2012 as one of its main corporate sponsors. UPM’s business areas manufacture various materials which will be presented in innovative ways during the design capital year. Cooperating with WDC Helsinki 2012 is an opportunity to promote UPM’s sustainable and innovative products as well as our strong materials expertise.
UPM sells its Lohja veneer mill to the mill's management
10.05.2011
UPM has agreed to sell its Lohja veneer mill from the Plywood Business Area to the mill’s operative management. In addition to mill’s businesses, the agreement covers the mill real estate, buildings, machinery and property. The mill’s personnel will continue to work with the new, to be established, company. The transaction is estimated to be completed in May 2011.
UPM ProFi nominated as one of Kevin McCloud's Green Heroes.
03.05.2011
UPM ProFi Deck has been nominated as one of renowned architect and broadcaster Kevin McCloud’s 10 Green Heroes. Selected as an outstanding example of a new high performance and environmentally sustainable material, UPM ProFi’s low maintenance composite decking system will also feature in the Grand Designs Live Show Garden at London Excel 30 April to 8 May.
UPM improved first quarter margins
21.04.2011
Interim report for January–March 2011 • Earnings per share were EUR 0.33 (0.13), excluding special items EUR 0.32 (0.15) • Operating profit excluding special items was EUR 198 million (116 million) • Sales growth continued, driven by both sales prices and delivery volumes • Earnings guidance for 2011 unchanged
UPM and Vertaris to promote recycling
21.04.2011
UPM and the French company Vertaris have teamed up to develop a release liner recycling concept in Europe. Release liner is the siliconised backing paper that is a part of self-adhesive labelstock until the label is taken into use. Today, the majority of the used siliconised liner is incinerated. The co-operation of UPM and Vertaris provides a solution to recycle the liner into pulp and paper.
Salaried employees strike at UPM ended
21.04.2011
The salaried employees’ two-week strike, which started in UPM’s operations in Finland 6 April, has ended today at 6 am. Around 1,000 salaried employees working, among others, in production, supply chain, finance and HR participated in the strike. "The cost impact of the strike was around one million euros, which is smaller than anticipated." says Jyrki Ovaska, President of UPM’s Paper Business Group.
UPM ProFi composite achieves PEFC certification
19.04.2011
UPM ProFi has achieved PEFC Chain of Custody certification for its composite products manufactured in Lahti, Finland and in Bruchsal, Germany. The certificate verifies the link to sustainably managed forests and that the raw material of UPM ProFi composites is 100% recycled.
Pohjolan Voima sells Fingrid shares
19.04.2011
UPM's associated company Pohjolan Voima sells Fingrid shares to the State of Finland and Ilmarinen. The energy company Pohjolan Voima Oy, the State of Finland and the Mutual Pension Insurance Company Ilmarinen signed today a contract on the sale of Pohjolan Voima's 25% shareholding of Fingrid, the Finnish electricity transmission system operator.
UPM papers bring out Tom Dixon's Extremes
15.04.2011
UPM has collaborated with renowned international designer Tom Dixon to create a visually exciting book on the theme of Extremism. Launched at Salone di Mobile in Milan, the book tells the story of extremism in design across Tom Dixon’s new product range. Printed with value added techniques, the 148 page book uses a combination of coated and uncoated paper grades from UPM’s vast paper portfolio.
UPM to sell its logging company in Russia
15.04.2011
UPM and International Paper have signed an agreement concerning the sale of UPM's ownership in the Russian logging company ZAO Tikhvinsky Komplexny Lespromkhoz. According to the agreement, the operations, permanent personnel and logging license covering 184,000 hectares of forest area in Tikhvin in the Leningrad oblast will transfer to International Paper Russia Holding B.V.
Share subscriptions based on UPM stock options 2007A
11.04.2011
A total of 300 UPM-Kymmene Corporation new shares were subscribed for by 25 March 2011 under the company's stock option rights 2007A. The entire subscription price of EUR 3,720 will be entered in the invested unrestricted equity reserve. As a result of the share subscriptions, the number of UPM’s shares will increase to 519,970,388.
Salaried employees' strike closes envelope paper machine
11.04.2011
UPM is forced to close its envelope paper machine at the Tervasaari Paper Mill in Valkeakoski due to the salaried employees' strike. The strike was issued by the Salaried Employees' Union PRO in Finland and it started on 6 April. Production work at the envelope paper machine ends on Wednesday affecting about 40 employees. The two other paper machines at the Tervasaari mill will continue production.
UPM to refurbish Voikkaa hydropower plant
11.04.2011
UPM will refurbish the Voikkaa hydropower plant located on the Kymi River in south east Finland. The refurbishment work will start up late 2011, and will take about two years. As a result of the refurbishment, the power plant will produce more renewable electricity from the same amount of water. UPM will use several million euros for upgrading the plant.
UPM to recruit some 1,000 summer workers in Finland
11.04.2011
UPM will recruit approximately 1,000 summer workers in Finland this summer. They will be employed in the production units, UPM Forest, UPM’s service centre in Tampere and the company’s head office in Helsinki. The selection process for these jobs is in progress. Last year, UPM employed 850 summer workers and the previous summer, approximately 100.
Substantial donation in recognition of Ehrnrooth’s life work
11.04.2011
UPM, Nokia and Nordea Bank Finland have donated a total of EUR 750,000 to the University of Helsinki’s Future Fund. Through the donation the companies want to honour Casimir Ehrnrooth’s life work in Finnish economy. Ehrnrooth was one of the major figures in Finnish industry during the 1980s and 1990s making significant contributions in mergers and acquisitions and in the country’s economic policy.
Most innovative franchising chain
11.04.2011
UPM’s subsidiary UPM Silvesta, which specialises in forestry work services, has been awarded for the most innovative franchising chain idea at the Finnish Franchising Association’s Franny Gala.The justification for the award states, among other things, that as far as is known, no other franchising chain focuses on forestry work services anywhere in the world, and therefore this is a new field from a franchising perspective.
Decisions of UPM-Kymmene’s AGM
At the Annual General Meeting of UPM-Kymmene Corporation, held on 7 April 2011, the financial statements of the company for the year 2010 were approved and the members of the Board of Directors and the President and CEO were discharged from liability.A dividend of EUR 0.55 per share will be paid on 20 April 2011.The current Board members were re-elected for a term continuing until the end of the next Annual General Meeting.
Positive development at UPM continues
UPM’s President and CEO Jussi Pesonen confirmed his confidence in UPM’s continued positive development at the company’s Annual General Meeting on April 7, 2011. “Following a strong performance in 2010, UPM is well positioned both in terms of business cycle and strategy”.“There has been a solid start to 2011. Deliveries and price increases have materialised as expected”.
Salaried employees will begin strike at UPM in Finland
Tomorrow, on 6 April at 6:00 Finnish time, the salaried employees have announced to begin a two-week strike which would affect the majority of UPM’s operations in Finland. The strike does not include UPM’s mechanical forest industry, that is, Plywood, Timber and UPM ProFi businesses, UPM’s forestry specialists, senior salaried employees, nor salaried employees of other forestry companies in Finland.
UPM considers Metsähallitus claims unfounded
On 31 March 2011, Metsähallitus filed a claim for damages against UPM, Stora Enso Oyj and Metsäliitto Cooperative at the District Court of Helsinki. The claim relates to the Market Court decision of 3 December 2009 whereby UPM, Stora Enso Oyj and Metsäliitto Cooperative were deemed to have breached competition rules in the roundwood market. UPM considers the claims unfounded in their entirety.
UPM separates sawn timber and further processing businesses
UPM ProFi® Deck is the first wood-plastic composite based terrace deck system manufactured in Europe to be awarded the right to use the CE mark. This marking is the manufacturer's confirmation of the product's compliance with EU quality requirements. UPM ProFi Deck has been product tested by VTT Expert Services Oy. The experts examined a total of 15 material properties.
CE marking for UPM ProFi composite terrace system
UPM ProFi® Deck is the first wood-plastic composite based terrace deck system manufactured in Europe to be awarded the right to use the CE mark. This marking is the manufacturer's confirmation of the product's compliance with EU quality requirements. UPM ProFi Deck has been product tested by VTT Expert Services Oy. The experts examined a total of 15 material properties.
Step into the Pro Label Studio
UPM Raflatac has launched a new website for label and packaging designers. Pro Label Studio presents visual examples and valuable information about the numerous possibilities that self-adhesive label materials offer for building brands and enhancing the shelf-presence of consumer products.
UPM applies for FSC certification in Finland
UPM applies for FSC (Forest Stewardship Council) certification for its forests in Finland. At the same time UPM also extends its forest service portfolio to cover FSC-certification services to Finnish forest owners. UPM's forests and most of the privately owned forests in Finland are already certified under PEFC (Programme for the Endorsement of Forest Certification Schemes).
UPM establishes a wind power development company
The terminal was delivered through a financial partnership between UPM,local authorities and the Strasbourg harbor (Port Autonome de Strasbourg)who were the project director and are owners of the facility.
Regulatory process of UPM's Myllykoski transaction proceeds
UPM strives for the best carbon footprint in the industry
UPM to expand its seedling production in Finland and Uruguay
UPM Raflatac to acquire labelstock operation in Brazil
UPM reports strong year of recovery
UPM's new formable plywood bends easily to many end uses