Helsinki, Finland 29 June 2012 -- UPM redeems the Myllykoski power plant from Vamy Oy in accordance with a previous commitment. The redemption is included in the reserves made in connection of the Myllykoski paper mill restructuring plans.
Vamy Oy’s power plant, located in Myllykoski, is a combined heat and power plant. The plant has been producing energy mainly to UPM Myllykoski mill. The power plant has used mainly biofuels and also peat and natural gas as raw materials. The power of the main boiler of the power plant is 88 megawatts. Vamy Oy is an affiliated company of Vattenfall AB.
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. The Group employs around 24,000 people and it has production plants in 16 countries. UPM's annual sales exceed EUR 10 billion. UPM's shares are listed on the Helsinki stock exchange. UPM – The Biofore Company – www.upm.com
Vattenfall is one of Europe's largest generators of electricity and largest producer of heat. Vattenfall's main products are electricity, heat and gas. In electricity and heat, Vattenfall works in all parts of the value chain: generation, distribution and sales. In gas, Vattenfall is active in sales. Vattenfall also conducts energy trading and lignite mining. Vattenfall's markets are Sweden, Germany, the Netherlands, the UK, Denmark, Finland, France and Poland. The Group has a little over 30 000 employees. The Parent Company, Vattenfall AB, is 100 per cent owned by the Swedish state. The net sales for 2011 was SEK 181.0 billion.