(UPM, Helsinki, 2 September 2015 at 11:00 EET)
– UPM has concluded the sale of 100% of its shares of Tilhill Forestry Ltd to
BSW Timber Ltd in the United Kingdom. The transaction does not have an effect on
the employment contracts of the employees of Tilhill Forestry.
“Despite the sale, our close relationship with
Tilhill Forestry continues and the company is fully committed to supply wood and
biomass for UPM Caledonian and Shotton mills in the UK,” says Kurt
Wurster, Vice President, RCP and CE Wood Sourcing, UPM Paper
Tilhill Forestry will continue to focus on
building its core strengths of high quality forest management whilst delivering
a secure and stable supply of home-grown timber to the UK market.
“This is an exciting step in the development of
Tilhill Forestry. This change of ownership will allow the company to continue to
grow while maintaining the professional standards that forest owners have come
to expect from Tilhill,” says George McRobbie, Managing
Director of Tilhill Forestry.
For further information please
contact: Kurt Wurster, Vice President, RCP & CE Wood Sourcing,
UPM, tel. +49 8213 109464George
McRobbie, Managing Director, Tilhill Forestry, tel. +44 1786
Notes to Editors:
UPM Through the renewing
of the bio and forest industries, UPM is building a sustainable future across
six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Paper Asia,
UPM Paper Europe and North America and UPM Plywood. Our products are made of
renewable raw materials and are recyclable. We serve our customers worldwide.
The group employs around 20,000 people and its annual sales are approximately €
10 billion. UPM shares are listed on NASDAQ OMX Helsinki. UPM – The Biofore
Company – www.upm.com
Tilhill Forestry Ltd
Established in 1948 and headquartered in Stirling, Scotland, Tilhill
Forestry provides professional forestry management and timber harvesting and
marketing services to forestry owners through its nationwide network of offices.
Tilhill employs approximately 200 people. www.tilhill.comThe BSW
GroupBSW Timber is the largest sawmilling business in Great Britain
and the company's foundations go back to 1848. BSW sawmills are located
throughout the UK and Riga, Latvia. Today the firm employs 1,000 people in the
UK and Latvia, turnover is in excess of £220 million. www.bsw.co.uk
UPM, Media Desk
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