Renewable and recyclable materials provider UPM is set to shut down its paper mill located at Docelles in France.
For closing the Docelles mill,the company had already completed employee information and consultation negotiations,and also secured approval for Social Plan from French authorities.
UPM is providing support to employees in a bid to alleviate the effects caused by staff reductions in relation to the mill closure.
The mill closure is part of the company's plan to adjust its graphic paper capacity and support operations to meet the declining demand in Europe.
According to the company,production at the mill will be permanently stopped by the end of January 2014.
UPM will reduce a total of 160 000 tons of its fine paper capacity with the closure of the Docelles mill.
UPM Paper ENA senior vice president Petteri Kalela said the company is looking for a buyer which could provide a credible future for the mill.
"Unfortunately this search did not result in a binding,credible offer for the mill.However,UPM is still open to consider the sale of Docelles mill machinery and property,"Petteri Kalela added.
