Forestry 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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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