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Financial Information
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| | 2002 | 2001
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|---|
| Net Sales (€M) | 10,475 | 9,918
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| Net Earnings (€M) | 550 | 955
|
Oyj (formerly '''UPM-Kymmene'''; ) is a
Finnish Pulp And Paper Manufacturer . It has approximately 35,579 employees. UPM-Kymmene was formed by the merger of '''Kymmene Corporation''' and '''Repola Ltd''' and its subsidiary '''United Paper Mills Ltd''' in 1996. The company's oldest mill is Papeteries de Docelles located in northeastern France, which was producing traditional handpaper at the end of 15th century.
In March 2006 UPM announced a cost reduction program that includes
Layoff s of about 3,600 employees, nearly 3,000 of those in Finland, and possibly the closing of its Voikkaa paper mill in
Kuusankoski altogether. This would be the largest single layoff ever in Finland.
