UPM Kymmene Oyj Calls Off Anticipated Lay-offs at Finnish Birch Plywood Mills

UPM Kymmene Oyj announced that its UPM Plywood calls off anticipated lay-offs decided at its birch plywood mills in Finland for the first half of 2013. Joensuu, Jyvaskyla and Savonlinna plywood mills had decided lay-offs lasting maximum of 90 days based on the employee negotiations held during the end of 2012. This anticipation of lay-offs was based on weak order stock and scarcity of logs. Uncertainty in the spruce plywood markets is continuing, though, and lay-offs decided at the Pellos mills will remain for time being.