April 26. 2006
UPM invests 6 meur in wood products manufacture in Russia and Finland
UPM will invest 6 million euros in wood products manufacture at its Chudovo Plywood Mill in Russia and Heinola Plywood Mill in Finland.
A third rotary cutting line will be installed at the Chudovo Plywood Mill to increase the mill's annual birch plywood production capacity by 20,000 cubic metres. This investment, totalling some 5 million euros, will strengthen UPMs capabilities to deliver customised products to the transport vehicle and parquet industries in particular. Installation work will begin in June, and the line will be operational as of December 2006. The Chudovo mill's current production capacity amounts to 80,000 cubic metres of birch plywood annually.
The sorting and machining line will be modernized at the Heinola Plywood Mill. The line will produce panels especially for the formwork systems and concrete production. This investment, which will cost approximately 1 million euros, will strengthen UPMs position as a supplier of special products to the formwork industry. Installation work will begin in June, and the line will start production in December 2006. The investment will have no impact on the Heinola plywood mills annual production capacity, which is 50,000 cubic metres of birch plywood.
UPM is one of the world's leading forest products companies. The company's businesses focus on papers, converting materials and wood products. The company offers high-quality WISA wood products solutions for building and industrial applications. UPM Wood Products Divisions turnover in 2005 was 1.3 billion euros, and it employs approximately 6,500 people.
For further information
Tuomo Visanko, Senior Vice President, Operations
UPM Wood Products
tel. +358 400-352 990
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