UPM's President and CEO Jussi Pesonen, speaking at the UBS Global Paper & Forest Products Conference in New York today, commented on the development of paper prices:
"The demand for paper has continued brisk and our order books are strong. The paper price trend is up. Due to the small share of non-contractual business and the cost pressures in certain oil-based raw materials, the positive price development has, however, little effect on the 2004 second half results."
For further information, please contactMr Kari Toikka, Executive Vice President and CFO, tel. +358 204 15 0014
UPM Corporate CommunicationsSeptember 22, 2004