UPM comments market speculations concerning an alleged pulp mill investment in Uruguay

30 January 2017

UPM states that it is not engaged in negotiations on a pulp mill investment with the Uruguayan government. As earlier announced, the company is considering prospects and prerequisites for long-term development in Uruguay. Currently UPM is engaged in discussions with the Government of Uruguay on infrastructure development.

The discussions with the Government of Uruguay have proceeded in positive spirit. The start of any investment project concerning a potential pulp mill would require a satisfaction of several requirements, one of them being a positive conclusion of the negotiations with the Government of Uruguay on the infrastructure development. However, at present, the discussion have not been concluded and a number of issues remain unsettled.

UPM will not comment on the negotiations in any further detail

UPM will inform of potential progress as required under the applicable laws and regulations.

UPM-Kymmene Corporation
Pirkko Harrela
Executive Vice President, Stakeholder Relations

UPM, Media Relations
Mon-Fri 9:00-16:00 EET
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 Specialty Papers, UPM Paper ENA and UPM Plywood. Our products are made of renewable raw materials and are recyclable. We serve our customers worldwide. The group employs around 19,600 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


Source: upm.com