Midwest Paper Group Announces Price Increase on UFR Grades

White-collar workers in Finland’s paper industry on Tuesday threatened to go on strike later this month in a dispute with employers over a new wage deal. About 3,000 clerical workers are due to begin a week-long strike on Jan. 17, trade union Pro said, adding that a refusal to work overtime is due to start already on Tuesday. The paper industry, including companies such as UPM (UPM.HE), Stora Enso (STERV.HE) and Metsa Group, accounted for 22 percent of all Finnish exports in 2016.

Billerud announces the temporary idling of the Escanaba Mill for up to three weeks as a precautionary measure to protect the health and safety of its employees and contractors due to a blastomycosis fungal infection outbreak. “Our top priority now and always is protecting the health and safety of our employees and contractors who work at our Escanaba Mill,” says Christoph Michalski, Billerud President and CEO. “We care deeply about their well-being and are doing everything we can to protect them and identify and address the root cause of the blastomycosis fungal infections. As a precautionary measure, we will temporarily idle the Escanaba Mill for up to three weeks to facilitate additional proper cleaning based on recommendations from NIOSH and other organizations, which requires larger portions of the mill to be vacant while this work is performed. The financial impact is assessed to be limited since the production at the Escanaba Mill was being adjusted to meet current market demand.”

* Excluding items affecting comparability 2019.-Operating profit for 2020 was SEK 2 479 million (2019: SEK 2 345 million excluding items affecting comparability of SEK 8 770 million). Lower production costs in Paperboard and higher wood product prices had a positive impact on earnings, though this effect was offset by price decreases and production curtailments in Paper. -Compared with the third quarter, operating profit decreased by SEK 119 million to SEK 595 million as a result of a maintenance shutdown in Paperboard. -Profit after tax in 2020 was SEK 1 979 million (8 731), which corresponds to earnings per share of SEK 12.2 (52.6). Profit after tax for the previous year was impacted by items affecting comparability of SEK 6 943 million.