UPM-Kymmene Corporation Stock Exchange Release 28 February 2014 at 8.00 EET
UPM implements the construction of the third production unit on its Changshu mill in China with improved capital efficiency. With the investment, the company is strengthening its leading global position in labelling materials as a cost competitive high quality supplier. The Changshu investment was announced August 7th, 2012.
“The Changshu investment is targeted to serve growing end uses in Asia markets with wide range of release liner materials and speciality products. This investment is implemented in our existing platform in Changshu, and will give us competitive production cost base through local synergies. The business fundamentals for the investment continue to be positive as both release liner materials and uncoated woodfree office and speciality papers enjoy a healthy demand outlook in Asia,” says Kim Poulsen, Executive Vice President, UPM Paper Asia.
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Pictures from Changshu: http://pet.upm.com/?cart=7691-fggcahiljl&l=EN
UPM Paper Asia is the world’s leading producer of fine papers and label papers, serving customers in Magazine Publishing & Advertising, Merchants, Catalogues and Offices. A leader in sustainable and high performance papers, UPM Paper Asia’s production is located in China and Finland. With headquarters in China, UPM Paper Asia employs approximately 1,700 people in China, Finland, Japan, Korea, Singapore and Australia.
Through the renewing of the bio and forest industries, UPM is building a sustainable future across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Paper Asia, UPM Paper Europe and North America and UPM Plywood. Our products are made of renewable raw materials and are recyclable. We serve our customers worldwide. The group employs around 21,000 people and its annual sales are approximately € 10 billion. UPM shares are listed on NASDAQ OMX Helsinki. UPM – The Biofore Company – www.upm.com