UPM to sell Loparex Group

22 June 2005 – Helsinki (FIN): UPM has agreed to sell its Loparex Group subsidiary to capital investment company, Mountaintop Investments for €230 million ($279 million).

Loparex Group’s turnover amounted to €337 million in 2004 and employs 1,350 people.

The sale is expected to be completed during Q3.