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UPM-Kymmene Says Strike May Shutter Paper Production in Finland

UPM-Kymmene Oyj, Europe’s second-largest papermaker, said it faces a shutdown of Finnish production in “a couple of days” if salaried employees walk off their jobs in a two-week strike scheduled to start tomorrow.

“It is impossible to estimate the exact impacts of the strike, but even a conservative estimate of the damage would be given in millions of euros,” Jyrki Ovaska, head of the paper division, said today in a statement. The Helsinki-based manufacturer had sales of 8.92 billion euros ($12.6 billion) last year.