UPM-Kymmene Corporation Investor news 27 October 2009 at 16:30
Decisions on UPM's Borea pulp project in Russia delayed
UPM and its Russian joint venture Borea are continuing the feasibility study for
the planned forest industry facility in Russia. In order to ensure the most
feasible location, new alternative site options are now being assessed.
Providing that assessments proceed as planned, decisions on the next steps can
be expected earliest at the end of 2011. Also the Russian authorities' decisions
on investments into infrastructure are a prerequisite for final decisions.
UPM's joint venture company Borea was founded in 2008 with the target to build
an industrial complex including a modern pulp mill, a sawmill and an OSB
building panels mill in Russia.
For further information, please contact:
Mr Tapio Korpeinen, President, UPM, Energy and Pulp Business Group, tel. +358 40
730 0090
UPM-Kymmene Corporation
Pirkko Harrela
Executive Vice President, Corporate Communications
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