UPM to Continue Temporary Shutdown in Germany

Helsinki, Finland, 21 August 2008 -- UPM has decided to continue the temporary shutdown at its fine paper mill in Germany. The temporary shutdown of PM 2 of Nordland Papier will continue until the end of the year. The curtailment will be continued due to further weakened fine paper demand and continued overcapacity. The annual production capacity of PM 2 is 200,000 metric tons of fine paper.

In April 2008, UPM announced temporary shutdowns at its fine paper mills in Central Europe for one to three months to address the poor profitability of certain businesses.