Each issue of PaperMoney is approximately 500 fact filled pages.
Logout
Click here for Pulp & Paper Radio International
Items just for you
New publication added! Advertising Arguments 2015 book
Free Downloads
Search
My Profile
Login
Management Side
Technical Side
UPM Offers To Buy Part Of M-real's Botnia Shares
Print
Helsinki, Finland, 09 November 2006 -– UPM has made an offer to M-real Corporation to buy Metsä-Botnia shares representing 15% of Metsä-Botnia. The offer is based on M-real's plan to sell Botnia shares as announced in October. UPM offers EUR 500 million for the shares.

UPM's objective is to secure Botnia's strategic development and investments. In cooperation with the other owners of Botnia, UPM wants to make Botnia a successful, increasingly international pulp company, with the financial prerequisites to grow and develop. UPM also sees opportunities to strengthen the competitiveness of Botnia's Finnish pulp production.

Botnia is an associated company of UPM, who owns 47% of Botnia's shares. The other owners are M-real Corporation with 39% and Metsäliitto Cooperative with 14% of shares.

Botnia is Europe's second largest pulp producer with five mills in Finland and production capacity of 2.7 million metric tons a year. About 80% of production is sold to the paper mills of Botnia's owners, while the other 20% is sold on the market, mainly in Europe. Botnia is currently constructing a pulp mill in Uruguay that will have an annual capacity of 1 million metric tons. The mill is scheduled to start up during the third quarter of 2007.



Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: