Company
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UPM sees headwinds from disrupted supply chains
Finnish forestry company UPM said on Thursday it sees headwinds and extra costs ahead from disrupted global supply chains, leaving investors disappointed with its growth expectations for the first half of the year. The pulp, paper and biofuel maker saw its shares sink more than 6% after announcing a flat earnings outlook for the first half of the year while also reporting fourth-quarter core earnings below forecasts. Global supply chain issues caused the company to announce a delay in the start-up of its new Uruguay pulp mill to the end of first quarter 2023 from the second half of 2022 and a 10% increase in the plant's investment costs. Similarly, the start-up of its new biochemicals plant in Leuna, Germany was delayed to the end of 2023 from end of 2022, the company said. "Disruptions to global supply chains have affected both the availability and costs of critical... Continue reading
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January 31, 2022
UPM sees headwinds from disrupted supply chains
Finnish forestry company UPM said on Thursday it sees headwinds and extra costs ahead from disrupted global supply chains, leaving investors disappointed with its growth expectations for the first half of the year. The pulp, paper and biofuel maker saw its shares sink more than 6% after announcing a flat earnings outlook for the first half of the year while also reporting fourth-quarter core earnings below forecasts. Global supply chain issues caused the company to announce a delay in the start-up of its new Uruguay pulp mill to the end of first quarter 2023 from the second half of 2022 and a 10% increase in the plant's investment costs. Similarly, the start-up of its new biochemicals plant in Leuna, Germany was delayed to the end of 2023 from end of 2022, the company said. "Disruptions to global supply chains have affected both the availability and costs of critical... Continue reading
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January 21, 2016
More CoC-certified timber companies in Malaysia
59 new certified timber companies have been recorded in 2015 by the Malaysian Timber Certification Council (MTCC). The registrations were made through the Chain of Costody (CoC) certification. Compared to 2014, this represented a 21% increase and scores the third year in a row with the highest increase globally in the number of CoC-certified companies, according to The Edge Markets. Yong Teng Koon, MTCC chief executive officer, stated that the council awarded the Programme for the Endorsement for Forest Certification for this achievement. He added that the CoC certification help protect the forest, increases the market position, together with positive brand image for their products and better access to the global market. The importance of putting in force sustainable forest management practices is to make sure that they cover the social, environmental and economic aspects, which... Continue reading
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January 31, 2022
UPM sees headwinds from disrupted supply chains
Finnish forestry company UPM said on Thursday it sees headwinds and extra costs ahead from disrupted global supply chains, leaving investors disappointed with its growth expectations for the first half of the year. The pulp, paper and biofuel maker saw its shares sink more than 6% after announcing a flat earnings outlook for the first half of the year while also reporting fourth-quarter core earnings below forecasts. Global supply chain issues caused the company to announce a delay in the start-up of its new Uruguay pulp mill to the end of first quarter 2023 from the second half of 2022 and a 10% increase in the plant's investment costs. Similarly, the start-up of its new biochemicals plant in Leuna, Germany was delayed to the end of 2023 from end of 2022, the company said. "Disruptions to global supply chains have affected both the availability and costs of critical... Continue reading