(UPM, Helsinki, October 11, 2007 at 13:00) – UPM has sold its Finnish port operators Oy Rauma Stevedoring Ltd and Botnia Shipping Ltd to Babcock & Brown Infrastructure (BBI). The sale price for the operations is EUR 90 million. The capital gain for the sale of the business will be booked in the fourth quarter of the year. The amount of the capital gain will be defined based on the accounts to be prepared by the time of the transfer.
Oy Rauma Stevedoring Ltd is a port operator based in Rauma. The company's annual sales are about 55 million euros and it has an average of 610 employees. Based in Pietarsaari, Botnia Shipping Ltd's annual sales are about 7 million euros and it has an average of 50 employees.
In connection with the sale, UPM has made a long term logistics service contract with BBI. The sale of the Finnish port operators complies with UPM's strategy to divest non-core businesses.
BBI is a specialist infrastructure entity which provides investors access to a diversified portfolio of quality infrastructure assets. The company owns and operate globally ports handling a total of around 150 million tonnes of various commodities. The company's annual Group Revenue amounts to 1.3 billion Australian dollars (approximately EUR 0.8 billion) and it employs 2,900 people worldwide. For further information, please visit www.bbinfrastructure.com.
For further information please contact (after 14:00 Finnish time):
Mr Jussi Sarvikas, Senior Vice President, Logistic, UPM, tel. +358 400 620896
Mr Jari A. Vainio, General Manager, UPM, Wisaforest, Pietarsaari, tel. +358 40 5465 097
A news conference on the transaction will be held today, October 11, 2007 at 14:30 (Finnish time)
- in Rauma, Rauma City Hall, address Kanalinranta 3.
- in Pietarsaari, Botnia Shipping canteen, address Laukontie 3
Both UPM and BBI representatives are present in the news conferences. In addition, representatives from Rauma City will be present at the news conference in Rauma.