Decisions on UPM's Borea pulp project in Russia delayed

(UPM, Helsinki, 27 October 2009 at 16:30) – UPM and its Russian joint venture Borea are continuing the feasibility study for the planned forest industry facility in Russia. In order to ensure the most feasible location, new alternative site options are now being assessed.

Providing that assessments proceed as planned, decisions on the next steps can be expected earliest at the end of 2011. Also the Russian authorities' decisions on investments into infrastructure are a prerequisite for final decisions.

UPM's joint venture company Borea was founded in 2008 with the target to build an industrial complex including a modern pulp mill, a sawmill and an OSB building panels mill in Russia.

For further information, please contact:
Mr Tapio Korpeinen, President, UPM, Energy and Pulp Business Group, tel. +358 40 730 0090