UK markets open in 3 hours 15 minutes
  • NIKKEI 225

    23,596.49
    -74.64 (-0.32%)
     
  • HANG SENG

    24,490.27
    -51.99 (-0.21%)
     
  • CRUDE OIL

    40.56
    -0.27 (-0.66%)
     
  • GOLD FUTURES

    1,904.40
    -7.30 (-0.38%)
     
  • DOW

    28,195.42
    -410.89 (-1.44%)
     
  • BTC-GBP

    9,070.15
    +530.36 (+6.21%)
     
  • CMC Crypto 200

    239.09
    +5.42 (+2.32%)
     
  • ^IXIC

    11,478.88
    -192.67 (-1.65%)
     
  • ^FTAS

    3,311.77
    -13.90 (-0.42%)
     

UPM seeks efficiency improvement in UPM Raflatac and in global functions

UPM
·2-min read

(UPM, Helsinki, 6 October 2020 at 13:05 EET) – As a result of the weakening world economic outlook as well as the COVID-19 related restrictive measures and their consequences, the uncertainty in UPM’s market environment continues. To ensure future competitiveness, UPM keeps taking action to decrease fixed and variable costs in its businesses and functions.

UPM’s label materials business UPM Raflatac plans to simplify its organisation and increase efficiency in operations and distribution. If implemented, the plans would reduce approximately 100 positions in UPM Raflatac’s global organisation, mainly in Europe.

In addition, UPM aims to increase efficiency of its global functions by reorganising and streamlining the functions’ operations in five countries. If implemented, the plans would decrease the number of positions in the functions by up to 70, mostly in Finland and in Germany.

Employee consultations on efficiency improvements will be started according to national practices. Final decisions will be made after the employee consultation procedures have been concluded in each country. If implemented, the plans announced today are expected to result in annual savings of approximately 12 million euros.

UPM focuses on continuous improvement in cost efficiency. Recently, UPM announced plans for permanent closing of UPM Kaipola paper mill in Finland, sale of UPM Shotton paper mill in Wales and streamlining UPM Communication Papers’ business function teams. In addition, UPM announced plans for reorganising and streamlining activities in Finnish pulp mills, UPM Forest and UPM Tervasaari mill in Finland. Earlier this year, UPM completed the closures of UPM Chapelle paper mill in France and UPM Plywood Jyväskylä mill in Finland. The company will continue to implement measures to decrease fixed and variable costs in all businesses and functions, as needed.

UPM, Media Relations
Mon-Fri 9:00-16:00 EET
tel. +358 40 588 3284
media@upm.com

UPM Raflatac
UPM Raflatac is labeling a smarter future beyond fossils by developing innovative and sustainable labeling solutions. As one of the world’s leading producers of self-adhesive label materials, we supply high-quality paper and film label stock for consumer product and industrial labeling through a global network of factories, distribution terminals and sales offices. We employ around 3,000 people and made sales of EUR 1.5 billion (USD 1.9 billion) in 2018. UPM Raflatac is part of UPM. Find out more at www.upmraflatac.com.

UPM
We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Biorefining, 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 18,700 people worldwide and our annual sales are approximately EUR 10.2 billion. Our shares are listed on Nasdaq Helsinki Ltd. UPM Biofore – Beyond fossils. www.upm.com

Follow UPM on Twitter | LinkedIn | Facebook | YouTube | Instagram | #UPM #biofore #beyondfossils