Duluth’s paper mill to be sold again with promises of new jobs (startribune.com)

Members of the Paperworkers’ Union, the Finnish Electrical Workers´ Union and the Trade Union Pro have this morning (1-Jan-2022) started strikes at UPM mills in Jämsänkoski, Kouvola, Lappeenranta, Pietarsaari, Rauma, Tampere and Valkeakoski. According to the unions, the strikes will continue until 6 o’clock on 22 January 2022 unless a new collective labour agreement is reached before that. The Paperworkers’ Union has not excluded any work from the strike, not even tasks critical to the society, such as operating and maintenance of water treatment and power plants. UPM businesses falling under the strikes are UPM Pulp, UPM Biofuels, UPM Communication Papers, UPM Specialty Papers and UPM Raflatac. The strikes do not concern UPM Plywood and UPM Timber, both of which signed business specific collective agreements with the Industrial Union in December. Furthermore, UPM Energy operates as usual, as it complies with the generally applied collective agreements of the energy industry.

Q2 2017 highlights: • Comparable EBIT increased by 2% to EUR 270 million (264 million in Q2 2016). • Favourable market demand continued. • High maintenance activity and seasonally higher fixed costs impacted comparable EBIT by approximately EUR -20 million compared with Q2 2016, EUR -45 million compared with Q1 2017. • Solid operating cash flow at EUR 269 million (434 million). • Net debt decreased to EUR 1,046 million (1,876 million). • UPM announced new focused investments at the Kaukas pulp mill and Tampere labelstock factory. Click Read More below for additional details.

Label and Graphic Materials - Reported sales increased 8% to $1.5 billion. Sales were up 14% ex. currency and 15% on an organic basis. Retail Branding and Information Solutions - Reported sales increased 24% to $658 million. Sales were up 27% ex. currency and 5% on an organic basis. Industrial and Healthcare Materials - Reported sales increased 1% to $198 million. Sales were up 5% ex. currency and 7% on an organic basis reflecting a mid-single digit increase in industrial categories and a high teens increase in healthcare categories.