UPM-Kymmene to Idle Miramichi up to 12 Months

NEW BRUNSWICK, CANADA—UPM-Kymmene will close down its Miramichi mill here in late August, leaving about 600 out of work for nine to 12 months.

The Miramichi mill has two machines producing lightweight coated paper, with an annual capacity of 450,000 tons. The company cited a strong Canadian dollar and unprofitability of exports to the United States—particularly with decreasing market prices for coated magazine paper in North America—as reasons behind the move.