HELSINKI (News release) -- The Finnish Paperworkers' Union has issued a new strike announcement to UPM, declaring that their strike at UPM's Finnish mills will be extended by two weeks until 19 February 2022, unless new agreements are reached before that. The Paperworkers' Union's strike at UPM Pulp, UPM Biofuels, UPM Communication Papers, UPM Specialty Papers and UPM Raflatac units in Finland started 1 January 2022.

UPM's goal continues to be to start business specific negotiations with the union as soon as possible.

"Only in the negotiations will it be possible to open up the goals of the parties and seek solutions together. Our businesses are very different from each other, which is why business-specific agreements are essential to us. Our focus is not on next month or next year, but on pursuing agreements that will enable each business to succeed well into the future. Business success also benefits our employees," says Jyrki Hollmén, Vice President, Labour Markets at UPM.

"By agreeing on a business-by-business basis, also the needs of local personnel can be taken into account. We want to be a fair and attractive employer in the future as well, which means, among other things, maintaining a good level of annual salaries. I believe that it is possible for us to find agreements for each business that all parties can be satisfied with," Hollmén continues.

UPM will service its customers from its mills outside of Finland to the extent possible. At this point, UPM does not disclose estimates of the economic impacts of the strikes.