UPM to sell its hydro power facilities in Steyrermühl to Energie AG

(UPM, Helsinki, 30 March 2017 at 08:30 EET) - UPM has signed an agreement on the sale of its hydro power facilities in Steyrermühl, Austria to Energie AG, an energy infrastructure company, located in Upper Austria.

The sale and purchase agreement is still subject to third party approvals. The parties have agreed not to disclose the purchase price.

"With their broad experience and best available technology in hydro power generation the Austrian wide well-known EAG could better develop and optimize the hydro power facilities at the river Traun further, where the company already operates other hydro power assets," says Rainer Häring, Director Energy, Western Europe, UPM Paper ENA.

For further information please contact:
Rainer Häring, Director Energy, Western Europe, UPM Paper ENA, tel. [phone]
Michael Frostel MSc, Energie AG, Upper Austria, tel. [phone]
Wolfgang Denk MSc, Energie AG, Upper Austria, tel. [phone]

For local information, please contact:
Ernst Spitzbart, General Manager, UPM Steyrermühl, tel. [phone]

UPM, Media Relations
Mon-Fri 9:00-16:00 EET
tel. [phone]
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About EAG
The Energie AG is the number one infrastructure group in Upper Austria. With their specialized business segments and subsidiary companies EAG works in the fields of energy, water and waste disposal, both in Austria and abroad. Thanks to the close cooperation among the business segments, the companies of the group and the holdings, EAG is able to offer their customers a wide range of high-quality products and services.

About UPM Paper ENA
UPM Paper ENA (Europe and North America) is the world's leading producer of graphic papers, offering an extensive product range for advertising and publishing as well as home and office uses. The high performing papers and service concepts of UPM add value to our customers' businesses, while activity fulfilling demanding environmental and social responsibility criteria. With headquarters in Germany, UPM Paper ENA employs approximately 8,000 people. More about UPM Paper ENA and its products at www.upmpaper.com

UPM
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 Specialty Papers, UPM Paper ENA and UPM Plywood. Our products are made of renewable raw materials and are recyclable. We serve our customers worldwide. The group employs around 19,300 people and its annual sales are approximately EUR 10 billion. UPM shares are listed on NASDAQ OMX Helsinki. UPM - The Biofore Company - www.upm.com

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Source: UPM via Globenewswire