UPM Plans To Close Two Units In Germany
May 29 (Reuters) -UPM-Kymmene Oyj UPM.HE:
PLANS TO REDUCE GRAPHIC PAPER CAPACITY IN GERMANY TO ALIGN WITH CUSTOMER DEMAND AND ENSURE COMPETITIVENESS
IF REALIZED, MEASURES WOULD RESULT IN ANNUAL REDUCTIONS OF 330,000 TONNES OF NEWSPRINT PAPER CAPACITY AND 280,000 TONNES OF UNCOATED FINE PAPER CAPACITY
TO SHUT DOWN ONE FINE PAPER MACHINE AT NORDLAND PAPIER (PM 3) IN DÖRPEN, BOTH ASSETS LOCATED IN GERMANY
NUMBER OF POSITIONS AFFECTED IS ESTIMATED APPROXIMATELY AT 135 IN HÜRTH AND 210 IN DÖRPEN
GRAPHIC PAPER DEMAND HAS CONTINUED TO DECLINE
PRODUCTION ON REMAINING PAPER MACHINES AT NORDLAND PAPIER WILL CONTINUE AS BEFORE
DURABLE RECOVERY IS NOT EXPECTED, RESULTING IN SIGNIFICANT OVERCAPACITY IN MARKET
WOULD RECOGNIZE RESTRUCTURING CHARGES OF EUR 113 MILLION (EUR 68 MILLION CASH IMPACT AND AN IMPAIRMENT OF EUR 45 MILLION) AS ITEMS AFFECTING COMPARABILITY IN ITS Q2 2024 RESULT
PLANNED ACTIONS ARE ESTIMATED TO RESULT IN ANNUAL FIXED COST SAVINGS OF EUR 45 MILLION
Source text for Eikon: ID:nGNE61PYcg
Further company coverage: UPM.HE
(Gdansk Newsroom)
</body></html>Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.