UPM has just published on the UPM Bonvesta website for competitive bidding new forest portfolios located in Finland. Four of these portfolios are located in Kainuu, one in Pohjois-Savo and one in North Karelia. Additionally as a special portfolio the island Ärjänsaari located in the Lake Oulujärvi is included in the bidding process.
The bidding process has two stages. First the parties interested make preliminary, non-binding bids latest on 4 September 2016. Based on these bids UPM selects the partners for further negotations and possible second bidding stage.
All other portfolios except Ärjänsaari are sold as investor portfolios which means that in addition to the contract of the sale of the portfolio we sign a long term wood purchase and forest management agreement with the buyer. This ensures steady demand for wood in all business cycles as well as long term professional sustainable forest management according to the targets of the new owner.
UPM has regularly sold its forest assets to develop its real estate portfolio. At present, UPM owns approximately 700,000 hectares of forestry land in Finland.
More information on the portfolios for sale
UPM Bonvesta website in English
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 ENA (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 19,600 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