UPM-Kymmene Intends to Dispose of Kajaani Sawmill and Heinola and Aureskoski Plants

UPM-Kymmene intends to dispose of its Kajaani sawmill and its Heinola and Aureskoski processing plants by the end of 2012. The restructuring plans for the business units “Timber” and “Living” announced on 11 April foresee either a closure or a sale of the three plants. The company justifies its decision with the results situation, which has already been weak for a long time now and which has recently been exacerbated by high roundwood costs and a surplus-supply situation on end-product markets. A decision is also to be made regarding the future of the Russian Pestovo sawmill and planing mill by the end of this year. Source: euwid-wood-products