Strike by UPM Salaried Employees Ends

HELSINKI, FINLAND—April 20, 2011—The salaried employees’ two-week strike, which started in UPM’s operations in Finland on April 6, ended at 6 a.m. Around 1,000 salaried employees working within production, supply chain, finance and HR participated in the strike.

“The cost impact of the strike was around 1 million euros, which is smaller than anticipated. Thanks to large special arrangements and the flexibility of other employees we managed to secure our customer deliveries and keep production lines running except one paper machine at our Tervasaari mill. Unfortunately, resulting from the strike, delays in UPM’s payment traffic will continue for weeks,” said Jyrki Ovaska, president of UPM’s Paper Business Group.

The Finnish Forest Industries Federation and the trade union Pro continued their negotiations, led by the National Conciliator, yesterday without a resolution. The negotiations will continue again on Tuesday, April 26. Pro has announced that it is expanding the salaried paper industry employees’ strike to Stora Enso, Metsäliitto and Myllykoski Paper for a two-week period starting on Wednesday, April 27. The planned strike does not include UPM.

Source: company release.