UPM Plans to Cut 1.3 Million Tonnes of Paper Capacity in Europe

“The paper industry faces severe challenges due to high raw material, energy and logistics costs, and considerable overcapacity. The profitability of our paper business is clearly below the level required to run long-term sustainable operations. The planned restructuring would further strengthen the cost competitiveness of UPM’s paper operations and reduce the future need for major maintenance investments,” says UPM’s President and CEO Jussi Pesonen.