Product category:
Printing Substrates - Paper, Forms and Stationery
News Release from: UPM-Kymmene Corporation
Edited by the Printingtalk Editorial
Team on 28 March 2007
Paper Firm Reports Good Demand And
Prices
UPM believes that strong demand for paper has continued and it anticipates an improvement in performance going forwards.
UPM believes that strong demand for paper has continued and it anticipates an improvement in performance going forwards The company's president and chief executive officer, Jussi Pesonen, was reporting on the company's activities at its annual general meeting
This article was originally published on Printingtalk on 22 Mar 2004 at 8.00am (UK)
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He commented: "In Europe, the good demand for paper has continued and we expect that deliveries for the full year will improve from last year." In further explaining UPM's performance, he commented: "We have achieved price increases in newsprint, uncoated fine papers and some speciality grades.
The prices of coated fine papers have remained stable.
In the current market situation, it has not been possible to raise magazine paper prices and their price development has been clearly disappointing." UPM announced that its labelstock business has been established as a separate division and the new Label Division consists of UPM Raflatac self-adhesive labelstock and RFID (Radio Frequency Identification) tags.
Pesonen said: "Labels are part of UPM's core business and it is a strategic growth area for the company.
We have invested strongly in this business in recent years and its annual sales have developed favourably.
Reporting the business separately will enhance transparency and facilitate the evaluation of business development for the owners." With that in mind, the Converting Division will be discontinued and the reporting of Walki Wisa will be included in other operations.
In February, UPM signed an agreement to sell Walki Wisa to funds managed by the Finnish private equity investment company Capman.
The deal is estimated to be completed during the second quarter of this year.
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