UPM, the Finnish paper giant, will reduce the number of employees by approximately 1,170 in Europe as part of an overall plan to adjust its magazine paper capacity to match the needs of its global customer base. UPM will permanently remove 1.2 million tonnes of magazine paper capacity in Finland, Germany and France, and 110,000 of newsprint capacity in Germany.
In Asia, no cuts have been announced.
In China, UPM has its Changshu mill located in the Province of Jiangsu, about 100 km from the city of Shanghai. The mill site hosts a 900,000 tpy fine paper mill, R&D Center and a labelstock factory.
In Malaysia, UPM’s factory in Johore is producing Raflatac lables.
The group further has sales offices in Singapore, Thailand, China, Taiwan, Korea and Japan.