(Reuters) – A union strike that has disrupted ports and the railway system is affecting Finland’s exports and imports.
The two-week strike, which began on March 11 and follows others since October, is being held to protest government plans to reform the labor market and cut social security – changes the government says are needed.
The unions and their federation SAK said on March 20 that industrial, logistics and electrical workers would extend their ongoing two-week strikes by a week until March 31.
Here’s how companies were affected:
BOLIDEN
The Swedish metals maker said on March 22 that it sees a negative impact on its first-quarter operating profit of about 500 million crowns ($47.6 million) due to strikes in Finland.
FINNAIR
The national carrier expects disruptions to refueling services and planned measures to allow refueling at stations outside Finland.
According to the latest information, there will be no consequences for flights from March 22, the carrier said.
KEMPOWER
Kempower, a maker of electric vehicle charging solutions, cut its first-quarter guidance on March 22 due to strikes affecting transportation and delivery delays.
The company now estimates first-quarter revenue to be well below last year’s figure of 55.8 million euros ($60.37 million) and operating earnings before interest and tax (EBIT) to be “significantly negative,” it said. company statement.
METSA BOARD
Forestry company Metsa group has closed five plants, including the Metsa Board-owned Joutseno plant, and said it would conduct a pay assessment of the employees involved.
The Metsa group said on March 21 that production would also stop at four of its sawmills on March 22, and estimates that four more mills would shut down on March 25.
NESTE
A group of oil and biofuel producers could halt production at its Porvoo refinery as a strike disrupts the transport of raw materials and causes storage facilities to overflow.
On 26 March, Neste said some of its petrol stations were no longer stocked with fuel and the situation would worsen as the strike continued as the company could no longer ensure customer supplies and product availability across its network of petrol stations.
NOKIAN TIRES
On March 22, the tire maker said it would temporarily lay off 350 employees at its Nokia (HE:) auto tire plant for 90 days due to the strikes. Inventory was being filled as strikes prevented the company from delivering products to customers, it said.
OUTOKUMPU
Stainless steel maker Outokumpu on March 21 cut its first-quarter core profit forecast for the second time.
The company estimates that the cumulative negative impact of the three-week strike on adjusted EBITDA will be around 65 million euros, of which the additional week will be around 25 million euros, a company spokesman said.
SSAB
The Swedish steelmaker said the strike would reduce SSAB Europe’s first-quarter operating result by around 300 million crowns.
A prolonged strike will disrupt operations at SSAB Europe’s Raahe plant in Finland.
STORA ENSO
The logging company stopped production at its packaging board plant in Varkaus and suspended wages for affected workers.
Stora Enso (OTC:) said on March 22 that it would begin a complete shutdown of its Imatra and Oulu plants on March 24. The company expects them to be completely closed by the start of Easter, a spokesman said.
UPM
Production was stopped at UPM’s paper mills in Kymi, Rauma and Jämsankoski, as well as at two pulp mills. However, the Jämsänkoski printing press is due to restart on March 25 for five days, the spokesman said.
The logging company is suspending payments to the workers involved.
VR GROUP
State Railway, which usually runs 250 freight trains a day, said the strike had stopped freight services until March 31. Passenger transport will not be affected.
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