Pulp and Paper Canada

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Disappointing quarter for UPM


January 31, 2006
By Pulp & Paper Canada

UPM has posted an operating loss for the October-December quarter of 71 million. A variety of factors are being he…

UPM has posted an operating loss for the October-December quarter of 71 million. A variety of factors are being held culpable for the disappointing performance. “UPM’s operating profit improved but remained weak,” said president and CEO Jussi Pesonen. “The labour dispute last summer in Finland only partially explains the weak result. Another reason is overcapacity in printing papers. Last quarter was unprofitable because of the non-recurring items.”

A six-week long strike that left the Finnish pulp and paper industry at a standstill last May and June took a heavy toll on the bottom lines of all the affected companies.

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