UPM's businesses prepare to adjust production temporarily in Finland and will start change negotiations on possible temporary layoffs

Press Release 8.3.2024 10:15 EET

UPM Pulp, UPM Timber and UPM Communication Papers will start change negotiations on possible temporary layoffs. The negotiations are conducted to prepare for possible temporary adjustment of production in the Finnish units, should the uncertainty in the operating environment continue.

The change negotiations on possible temporary layoffs cover all UPM pulp mills, sawmills, and communication paper mills in Finland. The change negotiations cover approximately 820 persons in UPM Pulp Finland's operations, approximately 340 persons in UPM Timber sawmills and approximately 1,100 persons in UPM Communication Papers Finnish mills.

The possible temporary layoffs could take place between 1 July and 31 December 2024 in UPM Pulp and UPM Timber, and between 1 September 2024 and 28 February 2025 in UPM Communication Papers. Decisions on possible temporary layoffs will be made after the change negotiations have been concluded. Any temporary layoffs could be implemented in stages and could last altogether a maximum of 90 days.

For further information, please contact:
Marko Sundqvist, VP, UPM Finland Pulp Operations, tel. +358 40 751 5144
Antti Koulumies, SVP, UPM Timber & Forest, tel. +358 45 675 1986
Antti Hermonen, Operations, UPM Communication Papers, tel. +358 400 280 839

UPM, Media Relations
Mon-Fri 9:00–16:00 EET
tel. +358 40 588 3284

UPM Pulp is one of the world's leading producers of northern softwood, birch and eucalyptus pulp. We supply global customers in end use segments such as tissue, specialty, packaging and graphic papers, and board, through our own sales and technical service networks close to customers in the APAC region and Europe. UPM Pulp operates five pulp mills – three in Finland and two in Uruguay – as well as eucalyptus plantations in Uruguay. UPM Pulp employs approximately 1,800 people. The annual production capacity of our mills is 5.8 million tonnes of pulp. Pulp Business is part of the UPM Fibres Business Area which combines the integrated production of pulp, energy and sawn timber with a synergistic supply chain of wood raw materials. www.upmpulp.com

UPM Timber produces redwood and whitewood sawn timber for the joinery, packaging, distribution, and construction industries. Our sawmills are powered entirely by renewable energy. We use certified Finnish raw material and the latest sawmilling techniques to produce high-quality sawn timber that fulfils our customers’ requirements. UPM Timber has four sawmills in Finland with a total annual capacity of 1.4 M cubic metres and its own sales network in Europe and Asia. UPM Timber employs around 410 people and has its headquarter in Tampere. www.upmtimber.com #settingthestandard

UPM Communication Papers
As a leading company in the paper industry, we drive the value of paper as a sustainable medium of trust, impact, learning and inspiration. UPM Communication Papers offers the industry’s widest portfolio for newspaper, magazine, marketing and book printing as well as for home and office applications. Our high performing papers and service concepts add value to our customers' businesses, while actively fulfilling demanding environmental and social responsibility criteria. With headquarters in Germany, UPM Communication Papers employs approximately 6,000 people and has 11 modern paper mills globally. More about us and our products at www.upmpaper.com

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Paper. Because it´s real.

We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Fibres, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. As the industry leader in responsibility, we are committed to the UN Business Ambition for 1.5°C and the science-based targets to mitigate climate change. We employ 16,600 people worldwide and our annual sales are approximately EUR 10.5 billion. Our shares are listed on Nasdaq Helsinki Ltd. UPM Biofore – Beyond fossils. www.upm.com

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