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UPM Kymmene Oyj Closes Production at UPM Stracel Mill

Monday, 7 Jan 2013 03:30am EST 

UPM Kymmene Oyj announced that it has finalized the employee information and consultation process with the Central Workers' Council of UPM France and the Workers' Council of the Stracel mill. The mill ceased production of coated magazine paper on January 4, 2013. The consultation process was started in July 2012. The process is part of the Company's asset review announced on August 31, 2011, aiming to adjust Company's magazine paper capacity to match the needs of its global customer base. The current customers of the UPM Stracel will be served from other UPM mills. UPM Stracel mill has been producing 270,000 tons of coated magazine paper grades. The mill has 250 employees. As the next step, the Company will continue the negotiations of the sale of assets and part of the land of the Stracel mill to the joint venture created by VPK Packaging Group and Klingele Papierwerke. 

Company Quote

-0.09 -0.81%
4:24am EDT