UPM modernizes and expands birch plywood production at Otepää in Estonia

(UPM, Lahti, April 24, 2007 at 12.15) – UPM will modernize and expand the birch plywood production at its Otepää plywood mill in Estonia. The investment, which is worth almost 10 million euros, will increase the mill's production capacity by 10,000 cubic metres and enables the manufacturing of further processed products. The investment will be ready in autumn 2008.

Otepää plywood mill manufactures high-quality FSC labelled WISA birch plywood mainly for transport and building industries. The production capacity of the mill will be 35,000 cubic metres after the completion of the investment. The majority of the production goes to export, mainly to Central European markets. There are 140 employees working at the Otepää mill.

For further information, please contact:
Mr Arto Juvonen, Senior Vice President, UPM, Plywood, tel. +358 400 557 035

UPM is one of the world’s leading forest products groups. The Group's sales in 2006 were EUR 10 billion, and it has about 28,000 employees. UPM's main products include printing papers, label materials and wood products. The company offers high-quality WISA plywoods and veneers mainly for building, interior decoration and transport industry. UPM has 15 plywood and veneer mills in Finland, Russia and Estonia. UPM's shares are listed on the Helsinki and New York stock exchanges. Further information is available on the company's web site at www.upm-kymmene.com