UPM (company)


UPM (company)

Infobox Company
company_name = UPM-Kymmene Oyj
company_
company_type = Public
foundation = 1996
location_city = Helsinki
location_country = Finland
key_people = Björn Wahlroos (Chairman of the board), Jussi Pesonen (President and CEO)
industry = Paper, pulp and timber
products = Publication and fine paper, wood products
revenue = €10.04 billion (2007)cite web |url=http://w3.upm-kymmene.com/upm/internet/cms/upmmma.nsf/lupgraphics/UPM_AR_07_en_full.pdf/$file/UPM_AR_07_en_full.pdf |title=Annual Report 2007 |accessdate=2008-04-13 |publisher=UPM-Kymmene]
operating_income = profit €483 million (2007)
num_employees= 26,350 (2007)
slogan = "We lead. We learn."
homepage = [http://www.upm-kymmene.com/ www.upm-kymmene.com]
intl = yes

UPM-Kymmene Oyj (usually referred to simply as UPM; nyse|UPM, OMX|HEX24386|UPM1V) is a Finnish pulp, paper and timber manufacturer. UPM-Kymmene was formed by the merger of Kymmene Corporation and Repola Ltd and its subsidiary United Paper Mills Ltd in 1996. The company's oldest mill is Papeteries de Docelles located in northeastern France, which was producing traditional handpaper at the end of 15th century.

Recent restructuring

Europe

In September 2008 UPM announced another cost reduction program that includes layoffs thousands of employees, and its Kajaani paper mill and Tervasaari pulp mill will be closed altogether. These will be the largest layoffs ever in Finland.

In March 2006 UPM announced a cost reduction program that includes layoffs approximately 3,600 employees, nearly 3,000 of those in Finland, and its Voikkaa paper mill in Kuusankoski was closed altogether. This was the largest single layoff ever in Finland. This is attributed to the worldwide overproduction of paper.North America

UPM announced the permanent closure of a large mill complex in Miramichi, New Brunswick on December 17 2007, citing economic pressures in the North American forest industry.

See also

*Ahlstrom
*Stora Enso
*Svenska Cellulosa Aktiebolaget
*List of Finnish companies

References

External links

* [http://www.upm-kymmene.com/ Company web site]
* [http://w3.upm-kymmene.com/gho/internet/ghofinre.nsf/Published/12441F4AFF8C55A8C2256CBD004317FB?OpenDocument Financial information]
* [http://biz.yahoo.com/p/u/upm.html Yahoo profile]


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