Helsinki, Finland, 10 June 2010 -– Dasos Timberland Fund I has entered into agreement to acquire a 5747 hectares of forest property from UPM in the Savo region in Finland. Through the acquisition, Dasos and UPM become significant partners in the Savo region. The arrangement includes a contract for long-term wood sales and for forest management services.
“Considering that Dasos only invests in certified or certifiable forests, it is important for us that the forest property acquired is certified and has been sustainably managed by UPM forest professionals over the years,” said Olli Haltia, CEO of Dasos Capital Oy, acting as the investment advisor. “We look forward to the cooperation with UPM supporting the Dasos goal of long-term stable yield to investors and also using wood in new end use areas, including biofuels.”
UPM offered in February 2009 for sale in total some 30,000 hectares of forests that are outside the areas where most of UPM’s forests are located. The company looked for partners committed to long-term forest ownership. Offers were given by private persons, Finnish communities, and foreign investors.
"The agreement with Dasos Timberland Fund I fits well with our aim to promote a more versatile forest ownership structure in Finland," said Risto Laaksonen, vice president of UPM's Northern Forestry Business.
UPM leads the integration of bio- and forest industries into a new, sustainable, and innovation-driven future. The company's 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 has production plants in 15 countries. In 2009, UPM's sales amounted to EUR 7.7 billion. UPM's shares are listed on the Helsinki stock exchange. For additional information, visit www.upmbiofore.com
Dasos Capital Oy Ltd is a leading European timberland management organization acting as an investment advisor to institutional investors, endowments, private banks, family offices, and other clients interested in sustainable international timberland investing. Established in 2005, Dasos Capital Oy advises Dasos Timberland Fund I, with a focus on forestry in Europe and emerging markets, and an objective of improving returns to investors on environmentally and socially sustainable basis. For more information, visit www.dasos.fi