UPM-Kymmene Corporation is planning to change its corporate structure in Finland to better match its current business structure.
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.
For further information, please contact:
Tapio Korpeinen, Chief Financial Officer, UPM, Tel. +358 204 150 004
UPM, Media Relations
tel. +358 40 588 3284
Through the renewing of the bio and forest industries, UPM is building a sustainable future across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Paper Asia, UPM Paper Europe and North America and UPM Plywood. Our products are made of renewable raw materials and are recyclable. We serve our customers worldwide. The group employs around 20,000 people and its annual sales are approximately EUR 10 billion. UPM shares are listed on NASDAQ OMX Helsinki. UPM - The Biofore Company - www.upm.com