(UPM, Helsinki, April 10, 2006) - UPM has today sold its French plywood mill, UPM-Kymmene Loulay S.A., to Green Recovery SAS. The purchaser is a French industrial group consisting of independent poles of activities. The deal takes effect immediately. UPM will book a provision of approximately EUR 10 million for loss on sale in the first quarter 2006.
The Loulay mill, located in the South-West of France, manufactures yearly about 34,000 cubic metres of plywood and decorative panel products. The mill has a turnover of EUR 28 million and it employs 193 people. "Over the years, the strategic role of Loulay Mill has diminished greatly and there are no actual synergies between Loulay Mill and other UPM plywood mills", says Alain Comte, Chairman of the Board.
For further information please contact: Alain Comte, Chairman of the Board, UPM-Kymmene Loulay S.A., tel. +33 6 8281 4617 andTuomo Visanko, Senior Vice President, Operations, UPM Wood Products Division, tel. +358 400 352 990.