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UPM-KYMMENE OYJ

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The Paperworkers' Union has announced to continue its strike in several UPM mills in Finland

01/05/2022 | 08:20am EDT

(UPM, Helsinki, 5 January 2022 at 15:20 EET) – The Finnish Paperworkers’ Union has issued a new strike announcement to UPM, declaring that their strike at UPM’s Finnish mills will be extended by two weeks until 5 February 2022, unless new agreements are reached before that. The Paperworkers’ Union’s strike at UPM Pulp, UPM Biofuels, UPM Communication Papers, UPM Specialty Papers and UPM Raflatac units in Finland started 1 January 2022.

“If the members of the Paperworkers’ Union want to continue the strike, they naturally have every right to do so. UPM’s goal continues to be to start business specific negotiations with the union as soon as possible. Negotiations are the only way forward. It is important that the negotiations for new agreements begin with a forward-looking mindset and determination to find the best solution for each business and its personnel” says Jyrki Hollmén, Vice President, Labour Markets at UPM.

Just before the strike started, UPM received from the Paperworkers’ Union an email proposal for a new collective labour agreement, without any prior negotiation contact. The proposal was practically the same old collective agreement, which expired at the end of 2021. UPM, however, aims to have genuine interactive negotiations on the new terms of labour.

What is exceptional in the strike announcements of the Paperworkers’ Union is, that tasks critical to the society have not been excluded from the strike. Even if the negotiations had not even been started, the union announced during the autumn that during the possible strike tasks critical to the society can only be carried out under the old agreement. “The exceptional procedure indicates that Paperworkers’ Union uses the tasks critical to society as a Trojan horse, trying to bind UPM to the expired agreement by every means possible” says Hollmén.

Well before the strike, UPM announced an additional fixed-term compensation to those who come to work at mills and do extra work because of the strike. With this initiative UPM wanted to ensure that wages are not a reason for an employee to refrain from tasks critical to society. UPM’s aim is to minimise the effects of the strikes to outside parties.

UPM will service its customers from its mills outside of Finland to the extent possible. At this point, UPM does not disclose estimates of the economic impacts of the strikes.

For further information please contact:
Jyrki Hollmén, Vice President, Labour Markets, UPM, tel. +358 2041 50051

UPM, Media Relations
Mon-Fri 9:00-16:00 EET
tel. +358 40 588 3284
media@upm.com

UPM
We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. As the industry leader in responsibility, we are committed to the UN Business Ambition for 1.5°C and the science-based targets to mitigate climate change. We employ 18,000 people worldwide and our annual sales are approximately EUR 8.6 billion. Our shares are listed on Nasdaq Helsinki Ltd. UPM Biofore – Beyond fossils. www.upm.com

Follow UPM on Twitter | LinkedIn | Facebook | YouTube | Instagram | #UPM #biofore #beyondfossils


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Sales 2022 11 192 M 11 951 M 11 951 M
Net income 2022 1 173 M 1 253 M 1 253 M
Net Debt 2022 1 572 M 1 678 M 1 678 M
P/E ratio 2022 15,2x
Yield 2022 3,92%
Capitalization 17 850 M 19 149 M 19 061 M
EV / Sales 2022 1,74x
EV / Sales 2023 1,63x
Nbr of Employees 16 843
Free-Float 97,9%
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Jussi Pesonen President & Chief Executive Officer
Tapio Juhani Korpeinen Chief Financial Officer & Executive Vice President
Bj÷rn Arne Christer Wahlroos Chairman
Winfried Schaur Executive Vice President-Technology
Berndt Harald Brunow Deputy Chairman
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