Guided by Biofore strategy


UPM’s portfolio consists of six competitive businesses with strong market positions and high barriers to entry. Performance, growth, innovation and responsibility continue to be the four cornerstones we build on. Biofore strategy has driven the continuous improvement of our financial, social and environmental performance, and we are well-positioned for the future. Creating shareholder value remains at the core of our strategy, and we believe that this also benefits other stakeholders and society in the long term.


UPM’s strategic focus areas

We create value by seizing the limitless potential of bioeconomy focusing on the following five strategic areas:


1.    Performance

Right operating model with separate business areas focusing on commercial excellence, cost efficiency, high-performing people, and the efficient use of assets and capital.


2.    Growth

Focused growth projects and transformative prospects. Sustainable and safe solutions that meet the growing global consumer demand and advance a circular bioeconomy.


3.    Innovation

New businesses, products and technologies with focus on creating sustainable alternatives to fossil-based solutions and advancing a future beyond fossils.


4.    Responsibility

Responsible use of natural resources and conducting business responsibly throughout the value chain guided by value-based leadership. 


5.   Portfolio

Develop businesses with strong long-term fundamentals and sustainable competitive advantage.



Spearheads for growth

UPM has three focus areas where it seeks significant growth in the coming years. Key factors for these spearheads are significant growth potential and UPM's competitive advantage based on deep knowhow and high barrier to entry.


High value fibre

Demand growth for market pulp is supported by global consumer megatrends and the need to find more sustainable alternatives for fossil-based materials. UPM is studying the potential of building a new world-class pulp mill in Uruguay.

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Molecular bioproducts

UPM has been developing technologies to produce sustainable drop-in alternatives for fossil fuels and fossil-based chemicals. New large value creation opportunities may open by decarbonising traffic and providing consumers with more sustainable products. UPM Biofuels is exploring opportunities to scale up the business by studying a potential larger biorefinery in Finland, and UPM Biochemicals is conducting a basic engineering study of a potential biorefinery in Germany.

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Specialty packaging materials

UPM grows in the attractive specialty paper and self-adhesive label materials segments by expanding its current production units and customer reach, and continuously developing its product portfolio of sustainable and safe labelling and packaging solutions.