(UPM, Helsinki, 10 June, 2010) – Dasos Timberland Fund I has entered into agreement to acquire a 5,747 hectares forest property from UPM in Savo region in Finland. Through the acquisition Dasos and UPM become significant partners in Savo region. The arrangement includes a contract for long-term wood sales as well as for forest management services.
“Considering that Dasos only invests in certified or certifiable forests it is important for us that the forest property acquired is certified and has been sustainably managed by UPM forest professionals over the years,” says Olli Haltia, CEO of Dasos Capital Oy acting as the investment advisor. “We look forward to the cooperation with UPM supporting the Dasos goal of long term stable yield to investors and also using wood in new end use areas, including biofuels”.
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.
"The agreement with Dasos Timberland Fund I fits well with our aim to promote a more versatile forest ownership structure in Finland", says Risto Laaksonen, Vice President of UPM's Northern Forestry Business.
For further information, please contact:
Ms Riitta Väisänen, UPM, telephone +358 40 751 7972
Mr Olli Haltia, Dasos Capital Oy, telephone +358 40 901 0338
Mr Sami Veijalainen, Dasos Capital Oy, telephone +358 40 516 5794
UPM leads the integration of bio and forest industries into a new, sustainable and innovation-driven future. 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 23,000 people and it has production plants in 15 countries. In 2009, UPM's sales amounted to EUR 7.7 billion. UPM's shares are listed on the Helsinki stock exchange
UPM – The Biofore Company – www.upmbiofore.com and www.upm.com
Dasos Capital Oy Ltd is a leading European timberland management organization acting as an investment advisor to institutional investors, endowments, private banks, family offices and other clients interested in sustainable international timberland investing. Established in 2005, Dasos Capital Oy advices Dasos Timberland Fund I with focus on forestry in Europe as well as emerging markets and an objective of improving returns to investors on environmentally and socially sustainable basis. For more information www.dasos.fi