UPM establishes a wind power development company

(UPM, Helsinki, 8 March 2011 at 9.30 EET) - UPM in cooperation with TuuliSaimaa Oy has established a wind power development company VentusVis Oy. In the starting phase, the operations focus on developing land areas, which are leased from UPM, for wind power production. The development work includes evaluation of the land suitability, permitting process and preparation for possible wind power construction projects and wind power production.

“UPM’s land assets in Finland include several areas that could be suitable for wind power production. Our target is to study the circumstances in more detail and develop the areas that are suitable for wind power production,” says Anja Silvennoinen, Senior Vice President for UPM Energy Business Area.

“For TuuliSaimaa, VentusVis provides an opportunity to proceed towards its targets and strengthens the company’s position and know-how. TuuliSaimaa brings to the cooperation the operative management and wind power expertise. We are currently looking for new people to join our team,” says Petteri Laaksonen, Doctor of Science, Managing Director of VentusVis, who also continues as the Managing Director of TuuliSaimaa.

For further information, please contact:
Anja Silvennoinen, Senior Vice President, UPM, Energy Business Area, tel. +358 40 760 0824
Petteri Laaksonen, Managing Director, TuuliSaimaa, tel. +358 40 508 8498

UPM, Corporate Communications
Media Desk, tel. +358 40 588 3284
media@upm.com

TuuliSaimaa Oy is a wind power expert company with operation based on strong know-how. The target of the company is to build wind power plants and wind power parks in Finland. The company is based in Lappeenranta, Finland.

UPM leads the integration of bio and forest industries into a new, sustainable and innovation-driven future. Our products are made of renewable raw materials and are recyclable. UPM consists of three Business Groups: Energy and pulp, Paper, and Engineered materials. The Group employs around 22,000 people and it has production plants in 15 countries. In 2010, UPM's sales amounted to EUR 8.9 billion. UPM's shares are listed on the Helsinki stock exchange. UPM – The Biofore Company – www.upm.com

More information about VentusVis at www.ventusvis.com