UPM to limit sawn goods production

UPM will temporarily limit its sawn goods production. The company will carry out production cuts at four of its sawmills in Finland: Aureskoski, Alholma, Kajaani and Seikku, which will halt production for four days at the turn of April/May.

The decrease in production will be carried out without laying off the personnel. Dispatch activities and kiln drying will continue normally. The production cuts do not concern further processing in connection with the Aureskoski and Alholma sawmills.

The reason for the production cuts is the weak price level caused by the oversupply of sawn goods in Finland and in the main markets in Europe.

Further information:
Tuomo Visanko, Senior Vice President, Operations at UPM's Wood Products Division, tel. +358 400 352 990.

UPM, Wood Products Division
Communications/miia.narekorpi@upm-kymmene.com
23 March 2004

UPM is one of Europe's leading manufacturers and developers of wood products. The company offers high quality wood based solutions for construction and industrial end uses. UPM's annual sawn goods production capacity is 2.2 million cubic metres. The turnover of UPM's Wood Products Division was about 1.5 billion euros in 2003 and it employs 7,500 persons.