Consumables

UPM sells Pestovo sawmill in Russia to Lesnaya Innovacionnaya Kompanya LLC

Thursday 18. July 2013 - UPM has today signed an agreement on the sale of Pestovo sawmill real estate and machinery with Lesnaya Innovacionnaya Kompanya (LIK) LLC. The parties have agreed not to disclose the sales price. UPM announced the search for a buyer for the Pestovo sawmill on 10 January 2013.

The Pestovo mill personnel will not automatically transfer to the new owner. However, the company plans to restart the sawmilling operations as soon as possible mainly with the current employees.
The sale of the Pestovo sawmill follows UPM’s renewed Timber business strategy announced in April 2012. UPM focuses on the development of sawmills closely integrated with the company’s pulp and paper mills.