UPM closes Madison Paper Industries and plans to sell related hydro power assets in the U.S.
(UPM, Helsinki, 14 March 2016 at 16:00 EET) - UPM-Kymmene Inc. and Northern SC Paper Corp., a subsidiary of the New York Times Company, announced today the dissolution of their partnership, Madison Paper Industries, in the USA. The partnership's paper business will end and paper production is expected to conclude by the end of May at the latest. Hydro power assets located at the mill site will be sold. With the closure of the mill, UPM will reduce production of a total of 195,000 tons of its supercalendered paper capacity. The closure will impact approximately 214 employees located at