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UPM Completes Sale

Helsinki, Finland 02 October 2013 -- UPM has completed the sale of further processing business in Aigrefeuille d’Aunis, Western France, to Groupe FP Bois. UPM announced in July 2013 the conditional offer received for the Aigrefeuille mill. Altogether 38 employees of the business will transfer to the new owner. The parties have agreed not to disclose the sales price.

Groupe FP Bois will continue wood processing at the Aigrefeuille mill. The annual production capacity of the mill is 45,000 m3 of planed wood products.

”The sale of Aigrefeuille mill opens up new possibilities for both the site and the employees. We think that the new owner has a good opportunity to further develop the business,” says Anssi Klinga, Senior Vice President, UPM Timber.

”Aigrefeuille mill represents an excellent fit to the present scope of the Groupe FP Bois. With this acquisition we aim at developing high value wood products on growth segments,” says Eric Plantier, President, Groupe FP Bois.

The sale of Aigrefeuille further processing mill follows the in 2012 renewed Timber business strategy. UPM concentrates on developing the sawmills closely integrated with the company’s pulp and paper mills.

Groupe FP Bois, founded in 1953, is based in Mimizan in the South-West of France. It employs 200 people within four sites for a total turnover of more than 25 million euros in 2013. FP Bois offers its range of products under the brand Verniland. Located in the heart of the biggest cultivated forest of Europe, it processes each year some 140,000 tons of pine wood logs from the Landes forest. www.fpbois.com

UPM Timber manufactures top-class sawn pine and spruce timber for the construction and joinery industries. UPM Timber annually produces around 1.8 million cubic metres of timber from wood acquired from certified forests. UPM Timber’s production units are located in Finland and Austria. In Finland, UPM operates four sawmills in Lappeenranta (Kaukas), Pietarsaari (Alholma), Korkeakoski and Pori (Seikku). www.upmtimber.com

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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