Finnish forestry giant UPM-Kymmene has received the necessary regulatory approval for the strategic partnership with Versowood announced in September. This has enabled the partnership to be finalized with a signed contract on December 31, according to a press release.
Under the agreement, UPM will receive high-quality pulpwood and by-products from Versowood's sawmills, which will strengthen UPM's wood supply for its pulp mills amid the strained Finnish timber market. In return, UPM will supply timber from its own wood resources to Versowood's sawmills.
Additionally, UPM's sawmill in Korkeakoski has been transferred to Versowood's ownership, and UPM has acquired a minority stake in Versowood.
UPM-Kymmene Oyj is one of the world's leading paper producers. Net sales (including intragroup) break down by family of products as follows:
- papers (40.5%): magazine papers (worldwide No. 1 producer), fine and special paper (No. 1 in Europe; coated and glazed fine papers, packaging papers, letter-head paper, envelopes) and newspaper papers (No. 2 in Europe);
- pulp and timber products (30.1%): pulp, sawn timber and plywood;
- processed products (15.1%): adhesive labels, packaging (for the paper, steel and wood industries), silicon papers for the hygiene products, etc.;
- other (14.3%): primarily electricity production from renewable energy.
At the end of 2024, the group had 54 production plants worldwide.
Net sales are distributed geographically as follows: Finland (12.6%), Germany (10.4%), the United Kingdom (5%), France (3.7%), Poland (2.9%), Austria (1.1%), Europe (18.2%), the United States (17.4%), China (16.9%), Uruguay (1%) and other (10.8%).
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