UPM to not lay off employees at newly acquired Madison Paper in Maine amid announcement of 1,300 employee layoffs at some recently acquired European sites, total 1.3 million tonnes/year paper capacity reduction
September 1, 2011
(Bangor Daily News)
– Employees at Madison Paper Industries are breathing a sigh of relief Thursday, as the mill is not part of massive layoffs announced Wednesday by its new owner.
UPM-Kymmene Corp. has announced it will lay off nearly 1,300 employees at some of its newly acquired European plants, and will reduce paper production by 1.3 million tons.
The Madison mill, however, is not on the chopping block.
“We’re not one of the mills that would be elected to be closed by UPM at this time,” Madison Paper Industries President and CEO Russ Dreschel told the Morning Sentinel.
The mill is the Somerset County town’s largest tax contributor and a major employer in the region.