move over gunns

Saw another article about Uraguay and Argentina putting aside their differences and a European company coming in,I think that maybe Finland,can't find it---let us know where it maybe found,aand in Sth America they too grow Tassie blue gums,but wages are a pittance and standards are third world,no surprise really




Finland's UPM to cut 1,300 workers, close mills
Published: Thu, 2011-09-01 21:26
HELSINKI � UPM-Kymmene plans up to 1,300 layoffs and mill closures in Finland and Europe as it streamlines operations and slashes paper production by 1.3 million tons to cut costs and combat overcapacity. The world�s largest magazine paper maker said yesterday that most of the production cuts would be in the magazine paper section, in Finland, Germany and France, with a 110,000 ton reduction of newsprint capacity in Germany. It also planned to streamline plywood operations. UPM�s stock surged on the news, closing up more than seven per cent, at �9.13 ($13.19) on the Helsinki Stock Exchange.
The Finnish company said that �to adjust its magazine paper capacity to match the needs of its global customer base,� it will permanently close the Myllykoski mill in Finland, the Albbruck mill in Germany and will shut down a paper machine at the Ettringen mill in Germany. It also aims to sell the Stracel mill in France.

Streamlining paper and pulp operations and the plywood sector will also mean some temporary closures in Germany and Finland and layoffs of up to 200 people�on top of 1,100 job cuts in paper production. UPM said the measures would cause a a $100 million (�70 million) write-off in fixed assets, a provision for costs of �200 million in the third quarter, and annual synergy benefits of some �200 million. Like many forest product companies, UPM has been struggling with persistent overcapacity in European paper markets, forcing it to cut production, close mills and lay off thousands of workers in recent years. Helsinki-based UPM-Kymmene, with 24,500 workers worldwide, has production plants in 16 countries. Its net sales amounted to �10 billion in 2010. (AP)