UPM will start sales process to find a new owner for Aigrefeuille further processing mill

Investor news 17.1.2013 9:45 EET

(UPM, Helsinki, 17 January 2013, at 9:45 EET) – UPM will begin a sales process to find a new owner for its further processing business in France including a planing mill in Aigrefeuille d’Aunis and related sales organization located in Lagord, near La Rochelle. This activity is part of UPM’s Timber business area, and employs approximately 45 people. The sales process will be launched immediately and is expected to be completed by the end of July 2013.

UPM aims to find a buyer to continue wood processing in Aigrefeuille. In case UPM is presented with a binding offer, the company will proceed with the employee consultation process according to the French legislation.

UPM’s plan to sell the Aigrefeuille mill follows the renewed Timber business strategy announced in April 2012. UPM concentrates on developing the sawmills closely integrated with the company’s pulp and paper mills.

Aigrefeuille further processing mill operations will continue as usual despite the sales process.

For further information please contact:
Anssi Klinga, Senior Vice President, UPM Timber, tel. +358 50 466 1470

UPM Aigrefeuille further processing mill is located in Western France. The mill produces interior and exterior panels. UPM acquired the mill in 1999. The annual capacity of Aigrefeuille further processing mill is 45 000 m3 of wood products and activity employs around 45 people.

UPM Timber manufactures top-class sawn pine and spruce timber and further processed products for the construction and joinery industries. UPM Timber annually produces around 2.1 million cubic metres of timber from wood acquired from certified forests. UPM Timber’s production units are located in Finland, Austria, France and Russia. In Finland, UPM operates four sawmills in Lappeenranta (Kaukas), Pietarsaari (Alholma), Korkeakoski and Pori (Seikku). www.upmtimber.com

UPM leads the integration of bio and forest industries into a new, sustainable and innovation-driven future. Our products are made of renewable raw materials and are recyclable. UPM consists of three Business Groups: Energy and pulp, Paper, and Engineered materials. The Group employs around 23,000 people and it has production plants in 17 countries. UPM's annual sales exceed EUR 10 billion. UPM's shares are listed on the Helsinki stock exchange. UPM – The Biofore Company – www.upm.com

UPM, Corporate Communications
Media Desk, tel. +358 40 588 3284