(UPM, Helsinki, April 9, 2022 at 11:30 am EEST) – The mediator has announced that the mediation between UPM Communication Papers and the Paper Association has been suspended because the views of the parties are still far apart. At the same time, the mediator announced that mediation between UPM Specialty Papers, UPM Raflatac and UPM Biofuels is continuing. For UPM Pulp, the conciliator has already submitted a settlement proposal.

Unlike before, the Paper Association is now ready to finalize the agreements for UPM’s various businesses separately. This means that UPM Specialty Papers, UPM Raflatac and UPM Biofuels are preparing to find solutions within the same timeframe as UPM Pulp, which is expected to announce its position on the settlement proposal by 14 April 2022.

No further meetings have been arranged between UPM Communication Papers and the Paper Association.

For more information, contact:
Jyrki Hollmén, Vice President, Labor Market, UPM, tel. +358 20 4150 051

UPM, media relations
Mon-Fri 9.00-16.00 EET
tel. +358 40 588 3284
[email protected]

UPM
We deliver renewable and responsible solutions and innovate outside the fossils for the future in six business areas: UPM Fibers, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. As a leading leader in the industry, we are committed to the UN Business Ambition’s 1.5 ° C target and science-based climate change mitigation targets. We employ 17,000 people worldwide and have an annual turnover of approximately EUR 9.8 billion. Our shares are listed on Nasdaq Helsinki Oy. UPM Biofore – Beyond fossils. www.upm.com

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