UPM-Kymmene Corporation plans to change its corporate structure in Finland to better match its current business structure, as the company says in the press release received by Lesprom Network.
UPM's business structure consists of six business areas. Currently UPM Raflatac and UPM Plywood in Finland are already fully owned subsidiaries. Now similar structures are considered for other business areas and/or units in Finland.
The changes are planned to be carried out in stages business by business within the next 15 months and progress will be reported in connection with the interim reports.
The planned arrangement is administrative and has minor impact on day-to-day operations. Corporate and functional services to new entities would continue as earlier.
The plan does not include personnel reductions.