UPM permanently closes its Chapelle newsprint mill

UPM will permanently cease production at its Chapelle newsprint mill in Grand-Couronne, France today. The consultation process with employee representatives was completed on June 15th, 2020 according to French legislation and approved by French authorities on July 15th, 2020.

The closure impacts 228 people. UPM offers support to employees in order to alleviate the effects caused by staff reductions in relation to the closing of the mill.

With the closure of the mill UPM will reduce a total of 240.000 tonnes of its newsprint paper capacity.

“After UPM announced the intention to sell the Chapelle mill in September we started an active sales process and have been in discussions with interested parties since. However, we have not received binding offers by potential buyers. Consequently, we decided to close the mill, while at the same time working with employee representatives to mitigate the social impact on our employees. We remain committed to selling the mill assets if we receive a suitable offer,” says Anu Ahola, Senior Vice President, News & Retail, UPM Communication Papers.

UPM recognizes restructuring charges in total of EUR 78 million, whereof EUR 61 million as cash costs. EUR 45 million was booked as items affecting comparability in Q1 2020 and EUR 33 million in Q2 2020. The action will result in annual savings of approximately EUR 30 million.
https://www.upm.com/about-us/for-media/releases/2020/07/upm-permanently-closes-its-chapelle-newsprint-mill/

Related Posts

Mercer International Inc. reports third quarter and nine months 2020 results

In the third quarter of 2020, net income was $7.5 million (or $0.11 per share) compared to $1.2 million (or $0.02 per share) in the third quarter of 2019 and a net loss of $8.4 million (or $0.13 per share) in the second quarter of 2020. In the first nine months of 2020, Operating EBITDA decreased by 41% to $143.1 million from $244.6 million in the same period of 2019. In the first nine months of 2020, net loss was $4.3 million compared to net income of $63.1 million in the same period of 2019.

Neenah Reports Second Quarter 2021 Results Led by Organic Sales Growth and Accretive Acquisition

Consolidated net sales of $269.3 million in the second quarter of 2021 increased 67 percent compared with $161.4 million in the second quarter of 2020. The increase includes strong volume growth in both segments, including net sales from the Itasa acquisition of $33.2 million. The impact from lower net selling prices was mostly offset by favorable currency effects. Excluding the Itasa acquisition, net sales grew 4% from the first quarter of 2021. Operating loss of $32.6 million in the second quarter of 2021 decreased compared to operating loss of $58.5 million in 2020. The operating loss of $32.6 million in 2021 resulted primarily from non-routine charges of $51.9 million, including asset restructuring costs resulting from the Appleton Mill closure, loss on debt extinguishment, acquisition and integration costs, pension settlement losses and other restructuring items as detailed in the GAAP reconciliation table.

Monadnock Announces 100% PCW Recycled Selections for HP Indigo Sheetfed Presses

Monadnock announces line of RIT HP Indigo 3-Star Certified media made with 100 percent post-consumer waste (PCW) recycled fiber. The line includes uncoated and coated options under its flagship Astrolite PC 100® line of fine recycled printing papers. Astrolite PC 100 Digital+ for HP Indigo is available in weights ranging from 80 lb. text to 130 lb. double-thick cover. Astrolite PC 100 Velvet C2S with a universal coating optimized for HP Indigo (LEP), dry toner (EP) and offset lithography presses, available in weights ranging from 80 lb. text to 150 lb. cover. This single ply 150 lb. cover is unique to the industry. All products in the Astrolite PC 100 line have a matching shade. The surface is crafted using the best formulation chemistries for optimal LEP print performance. The Velvet coating provides an exquisite matte print surface that is unlike any other coated fine printing paper. The grades are available in a full range of sizes including 12×18” to 29.5×20.75” to accommodate the full portfolio of HP Indigo sheet fed digital presses.
Back To Top
×Close search
Search