Press release

UPM-Kymmene Oyj: Strategic partnership between UPM and Versowood finalized

(UPM, Helsinki, January 2, 2026 at 10:00 EET) - The strategic partnership agreement between UPM and Versowood, announced in September 2025, has received the necessary regulatory approvals and the contract has entered into force on December 31, 2025.

Under the agreement, UPM will receive high-quality pulpwood and sawmill by-products from Versowood, which will strengthen UPM's wood supply for its pulp mills in the tight Finnish wood market. UPM, in turn, will supply logs sourced through its own wood procurement to Versowood's sawmills.

In addition, UPM's Korkeakoski sawmill has been transferred to Versowood's ownership and UPM has received a minority shareholding in Versowood.

For further information please contact:
Petri Hakanen, SVP, Fibres Finland Operations, UPM, tel. +358 40 530 5595, petri.hakanen@upm.com

UPM, Media relations
Mon-Fri 9:00-16:00 EET
tel. +358 40 588 3284
media@upm.com

UPM Fibres
UPM Fibres consists of UPM's pulp and timber businesses as well as wood sourcing and forestry operations. UPM Pulp has three pulp mills in Finland and two pulp mills and plantation operations in Uruguay. UPM Timber operates three sawmills in Finland. UPM Forest secures competitive wood and biomass for the UPM businesses, manages UPM-owned and privately owned forests in Northern Europe and offers forestry services to forest owners and forest investors.
upmpulp.com | upmtimber.com | upmmetsa.fi (FI)

UPM
UPM is a material solutions company, renewing products and entire value chains with an extensive portfolio of renewable fibres, advanced materials, decarbonization solutions, and communication papers. Our performance in sustainability has been recognized by third parties, including EcoVadis and the Dow Jones Sustainability Indices. We operate globally and employ approximately 15,800 people worldwide, with annual sales of approximately €10.3 billion. Our shares are listed on Nasdaq Helsinki Ltd.
UPM - we renew the everyday
Read more: upm.com