Purchases are also being put on hold. Meanwhile, mills have been closed and the recession has pushed down the price and demand of paper and pulp. Furthermore, the industry has a great deal of timber sitting in storage.
Sixten Sunabacka, Head of UPM Forest, North Europe, says there is a lack of confidence in Finland’s timber market from both buyers and sellers. Forest owner Esa Similä says he is not selling wood because the prices are so low.
Forest products company Stora Enso is considering ways to streamline its workforce.