HELSINKI, Finland, Jan. 15 /CNW/ -- UPM has sold its former paper mill
and related assets in Miramichi, New Brunswick, Canada, to Umoe Solar AS of
Norway. The sale includes the paper mill, a groundwood pulp mill, woodlands
operations and two sawmills in nearby Bathurst and Blackville. The parties
have agreed not to disclose the sale price.
UPM acquired the Miramichi facility in October, 2000. The mill, with an
annual production capacity of 450,000 tonnes of lightweight coated magazine
paper, was permanently closed in December, 2007. The disabled paper machines
can no longer be used for paper production.
UPM worked closely with the provincial government over the past year
toward sale of the Miramichi site. "We appreciate the support and
understanding of the community and government during UPM's time in New
Brunswick, and we are pleased to see new hope for all with the sale," said
Miramichi General Manager Timo Suutarla.
UPM records an income of approximately EUR 20 million on the sale as a
special item in the first quarter of 2009.
For further information:
For further information: Mr. Olavi Kauppila, Senior Vice President of
UPM, Investor Relations, (011)+358 204 15 0658, or Sharon Pond, Communications
Manager of UPM North America, +1-630-386-2681, firstname.lastname@example.org, or
UPM, Corporate Communications, Media Desk, +358 40 588 3284,
email@example.com Web Site: http://www.upm-kymmene.com