HELSINKI, March 3, 2010 (Press Release) -The Finnish Transport Workers' Union strike which started on Tuesday, 2 March 2010, will stop transportation of raw materials to UPM'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 will expand to cover the stevedores of the Finnish ports, this will in effect shut down all of UPM's paper machines in Finland within a few days. The financial impact of the strike in UPM's result is estimated to exceed EUR 3 million a day.
UPM 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 UPM will suspend salary payment 7 days after the end of paper machine production work.
UPM aims to deliver its customer orders from its mills located in other countries. Nearly half of UPM's paper production capacity is located in Finland.