Key Developments: UPM-Kymmene Oyj (UPM1V.HE)

UPM1V.HE on Helsinki Stock Exchange

29 May 2015
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Latest Key Developments (Source: Significant Developments)

UPM-Kymmene Corporation enters into exclusive distribution agreement with Domtar Corp
Thursday, 10 Jul 2014 05:30am EDT 

UPM-Kymmene Corporation (UPM):Announces that UPM and Domtar Corp have entered into an agreement for UPM to become the exclusive distributor of Domtar Corp’s BioChoice lignin in Europe.Says BioChoice is produced at Domtar Corp’s biorefinery in Plymouth, North Carolina, and the agreement takes effect on Aug. 1.  Full Article

UPM-Kymmene Corporation signs distribution agreement for renewable diesel
Monday, 16 Jun 2014 06:15am EDT 

UPM-Kymmene Corporation:Signs sales agreement for UPM BioVerno renewable diesel, produced in UPM's Lappeenranta Biorefinery, with NEOT (North European Oil Trade).NEOT specializes in oil and biofuels wholesale and supplies with fuels Finnish service stations ABC, St1 and Shell.  Full Article

UPM-Kymmene says UPM Raflatac invests in coating line in Poland and cut jobs in Spain and Finland
Thursday, 24 Apr 2014 07:15am EDT 

UPM-Kymmene Corporation:Says UPM Raflatac is to invest about 13 million euros in a new coating line at the company's self-adhesive labelstock factory in Nowa Wies, Poland.Expects start-up of the new assets to take place in Q1 2015.Following the planned investment, will close an older film coating line in Tampere, Finland and the UPM Raflatac siliconising line in Tervasaari, Finland.Will also centralize sheet coating to Nowa Wies and at the same time close sheet labelstock coating operations and reduce capacity in sheets finishing in Polinya, Spain.Expects the actions to result in annual cost savings of about 4 million euros starting from 2015 and exceeding 6 million euros in 2016.Estimates total personnel impact to be a maximum of 122 positions, including 86 positions in Spain and a maximum of 36 positions in Finland.  Full Article

UPM-Kymmene says UPM Raflatac plans production capacity increase in Asia Pacific
Thursday, 3 Apr 2014 01:00am EDT 

UPM-Kymmene Corporation:Says UPM Raflatac plans to increase production capacity in Asia Pacific by investing 14 million euros in its asset platforms in China and Malaysia.Believes these initiatives will add 200 million euros of EBITDA in the coming three years.Intends to build a new coating line in the company’s self-adhesive labelstock factory in Changshu, China.Plans machinery upgrades in Changshu as well as the Johor Bahru factory in Malaysia.Estimates machinery investments to add more than 50 percent new coating capacity in the region for UPM Raflatac.  Full Article

UPM-Kymmene says UPM Plywood and Isku sign agreement
Tuesday, 18 Mar 2014 08:00pm EDT 

UPM-Kymmene Corporation:Says UPM Plywood and Isku have signed a partnership agreement on Finnish thermo-formable UPM Grada wood material and WISA birch plywood.Isku will convert all of its Lahti mill’s form press production to UPM Grada.Isku is a Finnish furniture manufacturer.  Full Article

Fortum Oyj, UPM-Kymmene and Valmet join forces for advanced biomass based fuels
Tuesday, 11 Mar 2014 08:00pm EDT 

Fortum Oyj:Joins forces with UPM-Kymmene Corporation and Valmet to develop a new, winning technology to produce advanced high value lignocellulosic fuels, such as transportation fuels or higher value bio liquids.The five-year project is called LignoCat (lignocellulosic fuels by catalytic pyrolysis).The project is funded by Tekes – the Finnish Funding Agency for Technology and Innovation.The aim is to help utilities and the forest industry sector in making investment decisions for entering advanced biofuel production.  Full Article

UPM-Kymmene proceeds with Changshu investment in China
Friday, 28 Feb 2014 01:00am EST 

UPM-Kymmene Corporation:Implements construction of the third production unit with improved capital efficiency on its Changshu mill in China.The investment scope has been moderately revised and instead of constructing a new power plant, UPM will upgrade existing boilers providing opportunity to consider more environmentally effective fuels or solutions for the mill’s energy supply in the future.The mill also aims at utilizing existing facilities more effectively instead of building new infrastructure.With the revised plan the investment cost is 277 million euros instead of the original 390 million euros.  Full Article

Metsaliitto Cooperative and Metsa Board to pay about EUR 67.1 mln in damages to UPM-Kymmene
Tuesday, 11 Feb 2014 07:31am EST 

Metsaliitto Cooperative:Says the Arbitral Tribunal has ordered Metsaliitto Cooperative and Metsa Board to jointly compensate UPM-Kymmene 67.1 million euros for damages including arbitration costs and penalty interests.Says UPM-Kymmene was claiming jointly from Metsaliitto Cooperative and Metsa Board primarily 58.5 million euros in damages in arbitration proceedings related to Metsa Fibre Oy’s Shareholders’ Agreement completed.Says secondarily UPM-Kymmene wanted the companies to return an 58.5 million euros claimed unjust enrichment based on an alleged breach of the tag-along clause specified in Metsa Fibre’s shareholder agreement signed in 2009.  Full Article

UPM outsources occupational health care services in Finland to Dextra
Tuesday, 4 Feb 2014 06:00am EST 

UPM-Kymmene Corporation:Signs contract with Dextra to outsource the company's occupational health care services.Says as part of this agreement Dextra will provide occupational health care services to all UPM employees in all locations in Finland.Says the company's 42 occupational health care professionals in six regional Occupational Health Care Centres will be transferred to Pihlajalinna Group along with the transfer of business as so called old employees upon closing.Says Dextra is part of the Pihlajalinna Group.  Full Article

UPM-Kymmene proposes FY 2013 dividend of EUR 0.60 per share
Thursday, 30 Jan 2014 04:30am EST 

UPM-Kymmene Corporation:Proposes FY 2013 dividend of 0.60 euro per share.Says record date is Apr. 11.Proposes the dividend to be paid on Apr. 24.Paid dividend of 0.60 euro per share for FY 2012.  Full Article

European shares slide as Atlas Copco and Commerzbank fall

LONDON, April 28 - European stock markets dropped on Tuesday after some weaker-than-expected corporate updates, with mining equipment group Atlas Copco and Commerzbank among the hardest hit.

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