(UPM, Shanghai, 8 November 2018 at 10:30 EET) - Today UPM celebrates its 20th anniversary in China with a ceremony at the national booth of Finland at the China International Import EXPO (CIIE) together with government officials from Finland and China, business partners and customers. During the ceremony, Jussi Pesonen, President and CEO of UPM and Bernd Eikens, Executive Vice President of UPM Specialty Papers shared UPM's continued commitment and vision for the Chinese market.
In the past 20 years, UPM has invested more than USD 2 billion in China, which is the single largest investment from Finland. UPM's environmental investments amount to USD 80 million.
"UPM has witnessed the development of China's economy; which provides great potential for all of us," says Jussi Pesonen.
"Today, we can proudly say that China plays an increasingly strategic role in UPM's global development. As China continues its transformation towards a green economy, we provide the most innovative and responsible forest-based solutions that support sustainable development."
The Biofore Concept Car showcases a future beyond fossils
UPM's strong focus on sustainability and innovation is fully displayed at CIIE, through its cutting-edge Biofore Concept Car which was exhibited at the national booth of Finland. The car is made out of UPM's innovative and renewable forest-based materials, showcasing the "UPM Biofore - Beyond Fossils" brand promise to Chinese stakeholders.
For further information please contact:
Bernd Eikens, Executive Vice President, UPM Specialty Papers, tel. +86 216 447 4328
UPM, Media Relations
Mon-Fri 9:00-16:00 EET
tel. +358 40 588 3284
About the UPM Biofore Concept Car
The Biofore concept car is designed to be a futuristic, street-legal vehicle which demonstrates the use of renewable biomaterials in the automotive industry. Various parts of the concept car are made from UPM's biobased materials - the UPM Formi biocomposite and UPM Grada thermoformable wood material. These materials significantly improve the overall environmental performance of the car, without compromising quality or safety. The concept car is fuelled by UPM BioVerno wood-based renewable diesel. UPM Raflatac label materials are used to mark spare parts as well as in the interior and exterior design of the car. www.bioforeconceptcar.upm.com
About UPM in China
Since its first investment in 1998, UPM's business has grown rapidly in China with cumulative investments of more than USD 20 million. Today, our operations include the UPM Specialty Papers Paper Mill, the Asia R&D center, and a UPM Raflatac factory located in the Changshu Economic Development Zone, Jiangsu province. UPM has also established a national sales network supporting its Specialty Papers, Raflatac (label), Pulp, Timber and Plywood business. We employ approximately 1,800 employees in China.
We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. We employ around 19,100 people worldwide and our annual sales are approximately EUR 10 billion. Our shares are listed on NASDAQ OMX Helsinki. UPM Biofore - Beyond fossils. www.upm.com