Paper pause

HELSINKI (Reuters) - The world's top magazine paper company UPM said it would close a Canadian mill for three months, since exports from the plant to the United States were currently unprofitable. The announcement was made Wednesday, December 7.

The Miramichi mill in New Brunswick would close for three months from February 1, 2006 -- the slowest period of the year -- but two sawmills and its woodlands division would not be affected, UPM said in a statement on Wednesday.

It did not say how many employees would be affected by the temporary closure.

"The Miramichi mill has high operating costs, and the strong Canadian dollar makes the mill's exports to the U.S. unprofitable," said Jyrki Ovaska, president of UPM's magazine paper division.