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UPM-Kymmene Corporation Sells Processing Operations at Kaukas Sawmill to Lannen Painepuu Oy


Wednesday, 14 Aug 2013 03:30am EDT 

UPM-Kymmene Corporation announced that the Company has signed an agreement on the sale of further processing operations at Kaukas sawmill in Lappeenranta, Finland, to Lannen Painepuu Oy, part of Kuusisto Group. The 11 employees of the further processing mill will continue working at UPM Kaukas sawmill with the current terms. The parties have agreed not to disclose the sales price. The production of planed and pressure impregnated wood products at Kaukas will end along the sale. Lannen Painepuu will transfer the production machinery away from Kaukas further processing mill by the end of 2013. The sale of Kaukas further processing operations 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. 

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