Helsinki, Finland, 01 June 2012 -- UPM’s sale of its packaging paper operations of the Pietarsaari and Tervasaari mills to the Swedish paper company Billerud has been concluded. UPM and Billerud announced the transaction on 01 February 2012. The enterprise value of the transaction is EUR 130 million. UPM reports a one-off gain of approximately EUR 50 million from the transaction in the second quarter.

The production capacity of the sold business at the Pietarsaari and Tervasaari mills is approximately 300,000 metric tons of packaging papers and the turnover is approximately EUR 220 million.

After the closing, UPM operates a pulp mill and a sawmill in Pietarsaari, and two label paper machines in Tervasaari, Finland.