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Finnish forestry group UPM-Kymmene reported a 47% drop in third-quarter comparable operating profit, citing weak markets and subdued consumer demand.
UPM-Kymmene will permanently close its paper mill in Kaukas, Finland, and cut 220 jobs, the company said Friday after concluding negotiations with employees.
UPM-Kymmene has agreed to sell a sawmill to Finland's largest private timber producer, Versowood, in a deal aimed at securing wood supplies for its pulp business amid high costs.
Finnish forestry group UPM-Kymmene said Tuesday it has started a strategic review of its plywood business, which could lead to a sale, demerger or an initial public offering of the unit.
UPM-Kymmene is extending a shutdown at one Finnish pulp mill and temporarily closing another, citing challenging market conditions and high raw material costs.
UPM-Kymmene Corporation announced it will discontinue its planned biofuels refinery project at the Port of Rotterdam, halting all engineering work and withdrawing from site commitments.
| 4 Sept 2025 |
| Sami Pauni appointed Executive Vice President, General Counsel | 28 Jul 2025 |
| UPM plans to end paper production in Kaukas, Lappeenranta and plans to shift coated mechanical paper production in Finland to its Rauma mill | 24 Jul 2025 |
| UPM Half-Year Financial Report 2025: Securing performance in a turbulent global trade environment | 24 Jul 2025 |
| Invitation to UPM's webcast on the half year financial report 2025 | 17 Jul 2025 |