UPM invests in next generation biochemicals to drive a switch from fossil raw materials to sustainable solutions - Seite 3

The investment is in line with Germany’s bioeconomy strategy and supports the goal of increasing responsible utilisation of the commercial forests. Availability of sustainably sourced hardwood in the region is good. Wood sourcing will be based on forest thinnings and residues of regional sawmills.

Next steps and capital outflow

The engineering and planning is on-going and the tendering for the main equipment, recruitment for the project and permitting process will start immediately. Permitting will proceed parallel to the investment project in line with German legislation.

Following today’s decision UPM increases the estimate for total capital expenditure in 2020 to EUR 1,3 billion.

For further information please contact:

Juuso Konttinen, Vice President, UPM Biochemicals, enquiries in English and in Finnish, tel. [phone], [e-mail]

Michael Duetsch, Director, UPM Biochemicals, enquiries in German, tel. [phone], [e-mail]

Pictures for media use: http://pet.upm.com/l/RD2K8J9d55mw

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UPM-Kymmene Corporation
Pirkko Harrela
Executive Vice President, Stakeholder Relations

UPM, Media Relations
Mon-Fri 9:00-16:00 EET
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[e-mail]

UPM
We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. We employ around 19,000 people worldwide and our annual sales are approximately EUR 10.5 billion. Our shares are listed on Nasdaq Helsinki Ltd. UPM Biofore – Beyond fossils. www.upm.com

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