Port Hawkesbury Paper Mill Update

The Paperworkers’ Union announced that the strike at most UPM’s Finnish mills will continue until 30 April 2022, unless new collective labour agreements are reached before that. Yet another extension of two weeks to the strike comes at a moment when negotiations between the union and UPM businesses continue intensively, and the conciliator has submitted a settlement proposal in the negotiations between UPM Pulp and the union. The parties must state their position on the proposal by 14 April. "Drafting of business specific collective agreements, led by the conciliator, has continued intensively during the past weeks. There is already a settlement proposal for UPM Pulp. Now it is important to focus on solving the open questions in the remaining UPM businesses", says Jyrki Hollmén, Vice President, Labour markets, UPM.

Toundra Greenhouse, an innovative cucumber-growing greenhouse complex in which Resolute holds a 49% interest, is expanding once again. On December 9, 2020, the organization announced its third expansion since its inauguration in 2016. The new $50-million plan brings the total invested in the joint venture’s three phases to $175 million. Located on land adjacent to Resolute’s Saint-Félicien (Quebec) pulp mill, the complex operates using state-of-the-art growing technology and sustainable practices, such as collecting rain and snow for plant watering, and offering polysterene-free packaging for its products. Toundra Greenhouse cucumbers can be found on dinner tables across Quebec. In under five years, Toundra Greenhouse has become a major player in the province’s greenhouse industry. A second development phase began just last month, and construction on the third phase is expected to begin in November 2021. The third expansion phase will increase the facility’s total annual production area to 28 hectares, and allow for the cultivation of new products. The expansion is expected to add 55 new jobs to its workforce of 180 employees.

*NET TURNOVER increased by 4 percent to 711 (681) MSEK. Compared to the first quarter of 2024, turnover rose by 3 percent due to higher market prices. *THE LIST PRICE of NBSK pulp was 16 percent higher compared with the second quarter of 2023. Compared with the first quarter of 2024, the list price rose 13 percent. The market price of CTMP rose by 1 percent compared with the second quarter of 2023 and decreased by 2 percent from the first quarter of 2024. *PRODUCED VOLUME amounted to 91.0 (93.2) thousand tonnes, which is 2 percent lower than in the corresponding quarter of 2023. *VOLUME SOLD rose to 88.6 (82.8) thousand tonnes, an increase of 7 percent. *EBIT (operating profit) was 30 (41) MSEK. Compared with the corresponding quarter of 2023, selling prices were lower while volumes were higher. EBIT increased from the first quarter of 2024 as a result of rising prices and higher production volumes.