(UPM, Helsinki, 11 March 2009 at 16:00) – UPM has sold its Ella Store Labels business to MariCap Group's Finnish affiliate MariSense Ltd. The parties have agreed not to disclose the sale price. Ella Store Labels's 15 employees at Ylöjärvi, Finland, will continue working for the business with the new owner, MariSense Ltd.
Ella Store Labels business develops and manufactures electronic price display solutions for retailers. The price displays based on electronic paper possess excellent optical capabilities and are easily readable due to their exceptional contrast. The paper-like price displays have been acclaimed by the retail chain and their customers. Price markings are always correct.
"Ella Store Labels is on its own field a highly competitive concept based on automised way of reacting to price change needs improving store efficiency. I am confident that MariSense's expertise and resources offer a good platform for Ella Store Labels's future success. UPM focuses on developing new businesses that are closer to its core business – such as biofuels, biochemicals, wood plastic composites and RFID tags," says Mr Hans Sohlström, Executive Vice President, Corporate Relations and Development, UPM.
According to MariSense's CEO, Mr Petteri Saarinen, Ella Store Labels business combines the technology innovations created via a large-scale product development and a substantial growth potential: "Retail trade's global change in pricing dynamics enables Ella Store Labels's rapid growth. I strongly believe that this business deal offers Ella Store Labels excellent opportunities to implement its global growth strategy as part of MariCap Group."
For more information, please contact:
Mr Hans Sohlström, Executive Vice President, Corporate Relations and Development, UPM, tel. +358 400 547717
Mr Petteri Saarinen, CEO, MariSense Ltd, +358 40 526 7466
Mr Göran Sundholm, CEO, Chairman of the Board, MariCap Group, +358 50 514 3242
Ella Store Labels: www.ellastorelabels.com
UPM is one of the world's leading forest industry groups. UPM consists of three Business Groups: Energy and Pulp, Paper, and Engineered materials. Our competitiveness is based on cost leadership, change readiness and leading innovation. The Group employs around 25,000 people and it has production facilities in 14 countries. In 2008, UPM made sales of EUR 9.5 billion. UPM's shares are listed on the NASDAQ OMX Helsinki stock exchange.
MariSense Ltd was founded in February 2009 for this purpose and is a part of MariCap Group which develops, manufactures, markets, delivers and services customers in several industries. MariSense Ltd develops and markets intelligent solutions based on sensor laminate technology and expertise in system development.