(UPM, Helsinki, 23. April 2010) - UPM has signed a contract with Catella to sell a 2,500 hectares forest entity located in Ylöjärvi in Finland. The agreement covers a long term wood purchase and forest management contract, as well. In autumn 2009 the companies agreed on sales of a 2,115 hectares forest entity located in Rautalampi in Finland.
Catella is an independent European finance group managing the Focus Global Forest CFGF investment fund specialised in forest property. Focus Global Forest CFGF includes forest areas acquired from different countries. For Catella forest is a long term investment offering a stable profit.
"The forests we purchased are well managed and we are confident that this will continue − it’s in our mutual interest," says Ernest Dochnal, who manages Catella's forest property in Finland. "The long term wood purchasing and forest management contract included in the agreement makes it easy for us to keep them in good, productive shape."
UPM offered in February 2009 for sale in total some 30,000 hectares of forests which are outside the areas where most of UPM’s forests are located. The company looked for partners committed to long term forest ownership. Offers have been given by private persons, Finnish communities and foreign investors. This fits well with UPM's aim to promote a more versatile forest ownership structure in Finland.
For more information, please contact:
Ms Riitta Väisänen, Sales manager, telephone +358 40 751 7972
Mr Ernest Dochnal, FGF Rautalampi Forest Holding Oy, telephone +358 040 572 1868
Note for editors
UPM's vision is to be the front-runner of the new forest industry. Our competitiveness is based on cost leadership, change readiness and leading innovation. Our products are made of renewable raw materials and are recyclable. UPM consists of three Business Groups: Energy and pulp, Paper, and Engineered materials. The Group employs around 24,000 people and it has production facilities in 14 countries. In 2008, UPM's sales amounted to EUR 9.5 billion. UPM's shares are listed on the Helsinki stock exchange. www.upm-kymmene.com
Catella is established in 1987 and thus active for 20 years. Catella consists of a number of closely interacting operations in the areas of Financial Advisory Services and Asset Management. Operations are pursued in independent but closely co-operating subsidiaries governed by their own boards. The parent company is Catella AB. Catella has some 350 employees and has offices in 16 European countries. www.catella.com