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27.03
09:35:35

UPM optimistic for 2008 - Finland

In a speech to shareholders on Wednesday UPM-Kymmene announced that its expects paper demand will continue to be good in 2008, though demand for sawn timber products is still weak.

 

Chief executive Jussi Pesonen said:"Paper demand continues to be good. Already announced and completed capacity reductions further improve market balance in Europe.”

 

He added that UPM’s profitability programme for 2006-2008 was proceeding as planned and the company expected cost savings of around 150 million euros in this year and 200 million euros in 2009.

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