UPM announces a production
curtailment at its Pestovo sawmill in Russia, and begins negotiations with
employees. The negotiations will affect all of the approximately 180 sawmill
employees. Starting today, production at the mill will be curtailed to the
level necessary to fulfil the on-going contracts. At the same time UPM
announces a search for a buyer for the Pestovo mill production area for
restructuring or reorientation of production.
