UPM is set to sell its major newsprint operation in North Wales as part of a global restructure.
The Finnish company this afternoon announced the news - saying the 200 employee paper mill at Shotton on Deeside would be sold for "conversion purposes".
It has the capacity to produce 250 000 tonnes of newsprint.
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Winfried Schaur, Executive Vice President of UPM Communication Paper, said: "UPM Shotton is well positioned to serve the 海角视频 market.
"However, we look for outside opportunities for alternative long-term use of the mill as the newsprint consumption continues to decline.
"The paper machine is technically flexible to support conversion especially into containerboard production."
The mill assets include the materials recollection and recycling facility, deinking plant, paper machine line and energy infrastructure as well as established access to the 海角视频 recycled paper market.
UPM has been asked to comment further on the plans and potential impact on workers.
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The firm is also closing its Kaipola mill in Finland latest by the end of 2020.
On the reasons for the restructure, the firm said: "Continued long-term decline in graphic paper demand combined with weakened economic outlook require prompt actions to ensure performance in UPM Communication Papers.
"In a declining market, competitiveness in company operations as well as local operating environment is of utmost importance.
"In 2020, the COVID-19 pandemic related lockdown measures have caused a short-term demand disruption in the graphic paper market.
"While there are early signs of normalisation in paper demand after lockdowns, the ensuing economic outlook has deteriorated globally."