Coverage
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.
Filings
| Filing | Date |
|---|---|
| UPM concentrates its Finnish paper indus | 27 Oct 2003 |
| UPM-Kymmene Interim Review 1 January - | 23 Oct 2003 |
| UPM-Kymmene's non-recurring items for Ju | 6 Oct 2003 |
| UPM-Kymmene to sell holding in Polar Kii | 1 Oct 2003 |
| UPM-Kymmene orders the new fine paper ma | 8 Sept 2003 |
| UPM-Kymmene's sale if its bulk container | 1 Sept 2003 |
| UPM-Kymmene to start negotiations on clo | 1 Sept 2003 |
| UPM-Kymmene receives subpoena related to | 19 Aug 2003 |
| UPM-Kymmene?s MACtac acquisition was rej | 28 Jul 2003 |
| EU approves State Aid in UPM-Kymmene Sho | 23 Jul 2003 |
| UPM-Kymmene?s Interim Review for January | 17 Jul 2003 |
| Appointment at UPM Kymmene Converting In | 25 Jun 2003 |