UPM Converting invests in developing new businesses

UPM Converting, the converting materials division of UPM-Kymmene, will invest strongly in developing new, fast growing businesses. The intention is to create more value added products based on the division's proprietary know-how and product development. Thus far UPM Converting has invested approximately EUR 13 million annually in developing of new products and businesses but now the intention is to increase this amount.

For example so called interactive or intelligent packaging materials open up new interesting opportunities. The strong composite materials know-how and diverse market expertize of the various business units of UPM Converting provide an excellent basis for creating new businesses.

To advance this purpose UPM Converting has decided to establish a New Venture team. The team's task is to develop new business oportunities together with the division's units as well as to ensure sufficient resources for the projects. Mr Jussi Vanhanen, LL.M, has been appointed the Head of UPM Converting New Ventures.

UPM Converting's business areas include self-adhesive and release materials as well as high value added packaging materials. The division's core competencies also include envelope and packaging papers and various industrial wrappings where it holds a strong market position. In 1999, UPM Converting's turnover was EUR 1.7 billion and it employs 7,470 people.


For more information please contact:
Mr Jussi Vanhanen, UPM Converting, tel. +358 204 15 0708


UPM Converting
Communications
3 October, 2000