Arab Today, arab today paper maker upm finalises purchase of myllykoski
Last Updated : GMT 13:22:36
Arab Today, arab today
Arab Today, arab today

Paper maker UPM finalises purchase of Myllykoski

Arab Today, arab today

Arab Today, arab today Paper maker UPM finalises purchase of Myllykoski

Helsinki - AFP

Finnish paper company UPM said it has completed the acquisition of paper maker Myllykoski, a move analysts say is an attempt to improve sagging paper prices. \"UPM estimates that the transaction will have an immediate positive impact on cash flow and a positive impact on earnings per share from 2012,\" the company said in a statement late Monday. Although the company said it also expected \"annual cost synergies\" of more than 100 million euros ($142 million), it has not yet detailed how the savings would emerge. Henri Parkkinen, an analyst with Pohjola Bank, told AFP that slashing capacity to improve prices would be the priority of the deal. \"They need to shut down around a million tonnes of capacity, which will strengthen pricing in the long term,\" Parkkinen said, adding that overcapacity in the paper industry has severely pushed down paper prices in Europe. Parkkinen said the deal also increases UPM\'s share of the European market but that even with the acquisition the company does not threaten Stora Enso\'s place as Europe\'s leading paper maker. UPM, the world\'s leading magazine paper producer, announced in December its plans to acquire Myllykoski, worth 900 million euros (1.3 billion dollars). The deal was approved by the EU Commission on July 13. UPM releases its second-quarter report on Wednesday but the Myllykoski deal is only expected to affect the bottom line in the third quarter, in the form of a one-off 40 million euro gain.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today paper maker upm finalises purchase of myllykoski Arab Today, arab today paper maker upm finalises purchase of myllykoski

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today paper maker upm finalises purchase of myllykoski Arab Today, arab today paper maker upm finalises purchase of myllykoski

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday