(UPM, Helsinki, June 8, 2007) – UPM's sale of Walki Wisa to funds managed by the Finnish private equity investment company CapMan was completed today and the business has been transferred to the new owner. The deal was published on February 26, 2007.
UPM will book from the sale a capital gain of around EUR 25 million for the second quarter of 2007.
Walki Wisa is Europe's leading producer of wrappings and composite materials for industrial applications. Walki Wisa's sales amounted to EUR 287 million in 2006. The company employs about 950 people.
For further information please contact:Mr Matti J. Lindahl, President, UPM Wood Products Division, tel. +49 171 6127688Mr Ari Rinkinen, President, Walki Wisa Oy, tel. +358 204 16 3000