Helsinki (News release) -- The strategic partnership agreement between UPM and Versowood, announced in September 2025, has received the necessary regulatory approvals and the contract has entered into force on December 31, 2025.

Under the agreement, UPM will receive high-quality pulpwood and sawmill by-products from Versowood, which will strengthen UPM's wood supply for its pulp mills in the tight Finnish wood market. UPM, in turn, will supply logs sourced through its own wood procurement to Versowood's sawmills.

In addition, UPM's Korkeakoski sawmill has been transferred to Versowood's ownership and UPM has received a minority shareholding in Versowood.