UPM has no plans for cuts at its UK businesses the firm has said after the Finnish forestry group announced 860 job losses and reductions to operating capacity in mainland Europe.
The company said it would reduce 580,000 tonnes of graphic paper capacity in Finland, Germany and France.
Blaming the impact of European economic conditions on paper consumption exacerbating structural changes to the industry, UPM announced the closure of paper machine 3 at Rauma mill in Finland, paper machine 4 at Ettringen in Germany, the sale of Docelles mill in France, and further streamlining in the paper business and global functions.
A spokesman for UPM UK said the announcement would not affect the firm’s UK recovered paper business based at its Shotton mill in north Wales, and there were no plans for cuts here at present.
He added: “The paper business remains a challenging environment and thus UPM is looking at the ways to best improve the efficiency of its largest business group. There will be further reviews of UPM Paper operations and functions in due course.”
UPM will publish its end of year financial statement for 2012 on 31 January.