Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Strikes shut down UPM pulp and paper plants in Finland

Stock Markets Jan 01, 2022 12:15PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: Magazine paper rolls are seen at UPM-Kymmene’s paper mill in Kaukas, Lappeenranta, Finland March 9 2016. Reuters/Jussi Rosendahl

HELSINKI (Reuters) - Some 3,000 workers at Finnish forestry group UPM went on strike on Saturday, shutting plants, the company said on Saturday.

Three unions representing paper workers, managerial staff and electricians had previously warned they would strike if a new agreement about wages and working conditions was not reached before the previous agreement ended on Dec. 31.

UPM quit collective bargaining a year ago together with other forestry employers, saying the industry wants to improve profitability by seeking alternative ways to agree on wages and working conditions.

While workers have demanded UPM signs a company-wide labour agreement, the company has pushed for business-specific agreements and signed them with its plywood and timber divisions.

Workers in UPM's pulp, paper and biofuels businesses have said UPM wants to dictate new conditions instead of negotiating, the three trade unions have stated.

The strike will end on Jan. 22 unless an agreement is reached before that, the trade unions previously said in separate statements.

Inderes analyst Antti Viljakainen earlier told Reuters UPM could expect the cost to be at least twice as big as the 30 million euros ($34 million) caused by a previous strike in 2020.

UPM rival Stora Enso (OTC:SEOAY) has signed a company-wide agreement with the workers' unions.

($1 = 0.8797 euros)

Strikes shut down UPM pulp and paper plants in Finland
 

Related Articles

Dow futures Dip After Strong Jobs Report
Dow futures Dip After Strong Jobs Report By Investing.com - Aug 07, 2022 5

By Oliver Gray Investing.com - U.S. stock futures were trading lower during Sunday’s evening deals, with major benchmark averages coming off a positive week as stronger than...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email