UPM says its deliveries are likely to dip further in the coming months.
Due to weakening markets, the company “will not achieve the expected result for the final quarter of the year 2008”.
UPM is preparing for the changing market situation by introducing flexible operations and capacity management in different production lines. Flexibility will be increased through shift arrangements and temporary lay-offs.
The company announced production curtailments in its sawmiling and plywood businesses in October.
Third quarter sales were down €11m on 2007, while pre-tax profits dipped to a loss of €90m.
