Update: Finnish Stevedores' Strike Closes UPM's Paper Mills in FinlandMarch 3, 2010
HELSINKI, FINLAND—March 3, 2010—The Finnish Transport Workers' Union strike which started on Tuesday, March 2, will stop transportation of raw materials to UPM-Kymmene's Finnish mills and seriously impede the transportation of products from mills to its customers. The strike will have an immediate impact on the operations of all UPM mills in Finland.
If the strike expands to cover the stevedores of the Finnish ports, this will in effect shut down all of the company's paper machines in Finland within a few days. The impact of the strike in its financial result is estimated to exceed EUR 3 million a day.
UPM-Kymmene will commence paper mill shut downs in Finland as soon as operations are no longer possible due to the lack of raw material and paper storage. In line with the Finnish Contracts of Employment Act, the company will suspend salary payment 7 days after the end of paper machine production work.
UPM-Kymmene says it aims to deliver customer orders from its mills located in other countries. Nearly half of the company's paper production capacity is located in Finland.