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UPM has Signed a Letter of Intent
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Helsinki, Finland 21 October 2013 -- UPM has signed a letter of intent with company Aviretta for the sale of the paper machine 4 at UPM Ettringen in Germany.

Aviretta GmbH plans to purchase UPM’s PM 4 in Ettringen and to convert it into a board machine. The planned production capacity would be approximately 210,000 tonnes of board annually. The PM 4 would remain in Ettringen and it is planned that UPM Ettringen should render certain services to Aviretta. UPM would not be a shareholder in this company.

In April 2013 UPM has announced the permanent closure of the paper machine 4 at Ettringen mill. The continuing challenges in European economy have significantly impacted the consumption of graphic papers.

“We are pleased about the plans of Aviretta to convert paper machine 4 into a board machine. This setup would also lead to synergies for both contract parties. A thorough examination in the coming weeks will show, whether the planned project could be realized in this form“, says Winfried Schaur, General Manager of UPM Schongau & UPM Ettringen.

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 (until 31 October 2013). The Group employs around 22,000 people. The company is present in 67 countries and has production plants in 17 countries. UPM's annual sales exceed € 10 billion. UPM's shares are listed on NASDAQ OMX Helsinki. UPM – The Biofore Company – www.upm.com



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