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UPM Kymmene Oyj Starts Negotiations with Employees at Pestovo Sawmill in Russia and Puts Sawmill on Sale

Thursday, 10 Jan 2013 02:00am EST 

UPM Kymmene Oyj announced production curtailment at its Pestovo sawmill in Russia, and begins negotiations with employees. The negotiations will affect all of the approximately 180 sawmill employees. Starting on January 10, 2013, production at the mill will be curtailed to the level necessary to fulfill the on-going contracts. At the same time UPM announces a search for a buyer for the Pestovo mill production area for restructuring or reorientation of production. The measures taken in Pestovo follow UPM’s renewed Timber business strategy announced in April 2012. UPM concentrates on the development of sawmills closely integrated with the Company’s pulp and paper mills. 

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