Oct 09, 2006. /Lesprom Network/. UPM will book an impairment charge of approximately Euro 115 million, net of taxes approximately Euro 80 million, relating to the production facilities at Miramichi magazine paper mill in Canada. The remaining carrying value of property, plant, equipment and intangible assets is approximately Euro 20 million. The cash flow of Miramichi mill has remained weak especially due to the strengthened Canadian dollar in relation to the US dollar. Relating to the ongoing extensive profit improvement programme, UPM books a provision for personnel expenses of approximately Euro 12 million and an impairment charge of Euro 5 million in the third quarter of 2006. In March 2006, UPM announced that the programme related provision for personnel expenses for the year 2006 is approximately Euro 65 million, of which Euro 37 million was booked in the second quarter of 2006. The programme is proceeding according to the plan. The results of the third quarter of 2006 include a tax-free capital gain of approximately Euro 90 million from the sale of Puukeskus as announced in June.