UPM-Kymmene to sell its bulk container business to international group of investors

UPM-Kymmene Corporation will sell its Rosenlew flexible intermediate bulk container (FIBC) operations to management and an international group of investors, of which the largest shareholder will be 3i Group plc. The purchaser intends to continue the manufacturing of bulk containers and to invest in further development of the business. The transaction is subject to approval by the competition authorities and is expected to close during the second quarter of the year.

Rosenlew's production plants are located in Belgium, Finland, France, Portugal and in the USA. Rosenlew has 470 employees and an annual turnover of approx. EUR 40 million.

For more information, please contact:
Mr Frej Nygård, Senior Vice President, UPM-Kymmene Converting Industry, tel. +358 40 589 6851

UPM-Kymmene Corporation
Corporate Communications
April 30, 2003