UPM plans to cut 90 jobs from workforce of 216 at its forestry subsidiary UPM Silvesta in Finland

JYVASKALA, Finland , December 1, 2011 (press release) – UPM Silvesta Oy will begin co-operation negotiations to improve the efficiency of operations and the profitability of the company. The negotiations will commence on 7 December, 2011.

If the planned measures will realise according to the plan the number of UPM Silvesta’s employees would decrease by 90 persons. The negotiations will cover the whole personnel.

UPM Silvesta employs for the time being 216 persons; 197 forest workers and 19 clerical employees.

The service ability of the company will remain unchanged also in the case the possible reduction of personnel will realise. UPM Silvesta’s own personnel and its external partners will also in the future be responsible for carrying out the agreed jobs.

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UPM leads the integration of bio and forest industries into a new, sustainable and innovation-driven future. Our products are made of renewable raw materials and are recyclable. UPM consists of three Business Groups: Energy and pulp, Paper, and Engineered materials. The Group employs around 24,500 people and it has production plants in 16 countries. UPM's annual sales exceed EUR 10 billion. UPM's shares are listed on the Helsinki stock exchange. UPM – The Biofore Company – www.upm.com

UPM Silvesta is UPM’s subsidiary specialized in forestry work.

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