Helsinki, Finland, 23 April 2010 -- UPM has signed a contract with Catella to sell a 2500 hectares forest tract in Ylöjärvi, Finland. The agreement covers a long-term wood purchase and forest management contract, as well. In autumn 2009, the companies agreed on sales of a 2115 hectares forest unit in Rautalampi, Finland.
Catella is an independent European finance group managing the Focus Global Forest CFGF investment fund specialised in forest property. Focus Global Forest CFGF includes forest areas acquired from different countries. For Catella, forests are a long-term investment offering a stable profit.
"The forests we purchased are well managed and we are confident that this will continue − it’s in our mutual interest," said Ernest Dochnal, who manages Catella's forest property in Finland. "The long-term wood purchasing and forest management contract included in the agreement makes it easy for us to keep them in good, productive shape."
In February 2009, UPM offered for sale in total some 30,000 hectares of forests that are outside the areas where most of UPM’s forests are located. The company looked for partners committed to long-term forest ownership. Offers have been given by private persons, Finnish communities, and foreign investors. This fits well with UPM's aim to promote a more versatile forest ownership structure in Finland.
UPM's vision is to be the front-runner of the new forest industry. The company's competitiveness is based on cost leadership, change readiness, and leading innovation. UPM's products are made of renewable raw materials and are recyclable. UPM consists of three business groups: Energy and pulp, Paper, and Engineered materials. UPM employs around 24,000 people and it has production facilities in 14 countries. In 2008, UPM's sales amounted to EUR 9.5 billion. UPM's shares are listed on the Helsinki stock exchange. For additional information, visit www.upm-kymmene.com
Catella was established in 1987. Catella consists of a number of closely interacting operations in the areas of financial advisory services and asset management. Operations are pursued in independent but closely co-operating subsidiaries governed by their own boards. The parent company is Catella AB. Catella has some 350 employees and has offices in 16 European countries. For additional information, visit www.catella.com