{ "schemaVersion": "1.3.0", "language": "en", "slug": "upm", "brandKey": "upm", "canonicalName": "UPM", "canonicalUrl": "https://worldbrand.ai/brand-wiki/upm", "jsonUrl": "https://worldbrand.ai/brand-wiki/upm/json", "markdownUrl": "https://worldbrand.ai/brand-wiki/upm/md", "name": "UPM", "oneLiner": "Finnish forest-industry and material-solutions group developing renewable fibres, advanced materials, low-emission energy and bio-based products.\n\nUPM-Kymmene is a Finnish forest-industry company producing renewable materials, pulp, paper, timber and biofuels.", "summary": "UPM is a Finnish forest-industry group whose modern corporate identity dates from the 1996 merger of Kymmene Corporation with Repola Oy and Repola’s subsidiary United Paper Mills Ltd. The legal parent is UPM-Kymmene Corporation, while UPM is the group’s principal commercial name. Headquartered in Helsinki, the company has evolved from a traditional paper and forest-products producer into a diversified material-solutions business built around renewable fibres, advanced materials and decarbonisation technologies.\n\nThe group’s historical activities include forestry, pulp, paper, timber, plywood, energy generation and paper converting. Its current portfolio remains anchored in forest-based products but is more differentiated than the business of the late twentieth century. UPM Fibres produces market pulp and sawn timber; UPM Energy generates and trades electricity through hydropower, nuclear and thermal assets; UPM Plywood manufactures plywood and engineered wood products; UPM Communication Papers supplies publication, newsprint and graphic papers; UPM Specialty Materials serves packaging, labelling and specialty-paper applications; and UPM Adhesive Materials supplies self-adhesive label and graphics materials. UPM also operates or develops next-generation renewable businesses involving biofuels, biochemicals and other wood-derived materials.\n\nUPM’s transformation has been driven partly by structural pressure on graphic-paper demand. During the 2000s and 2010s, the company closed or sold a number of mills, consolidated capacity and acquired assets such as Myllykoski and Rhein Papier. At the same time, it invested in businesses intended to use wood residues, cellulose, lignin and other renewable feedstocks in higher-value applications. The Lappeenranta biorefinery in Finland, which began producing wood-based renewable diesel in the mid-2010s, became a flagship example of this strategy. The BioVerno product family uses crude tall oil, a residue from pulp production, to make renewable diesel and renewable naphtha.\n\nUruguay has become another major pillar of UPM’s fibre strategy. The Fray Bentos pulp mill began operations in 2007, and the much larger Paso de los Toros mill started up in 2023 after a multibillion-euro investment. Together with eucalyptus plantations, nurseries, logistics infrastructure and the Nueva Palmira and Montevideo port connections, the Uruguayan platform gives UPM an integrated forestry and pulp-production base outside Europe. The expansion also made UPM one of the largest private industrial investors in Uruguay and intensified public debate concerning environmental monitoring, transport infrastructure and the distribution of economic benefits.\n\nUPM’s newer materials agenda includes the Leuna biorefinery in Germany, designed to convert solid wood into wood-based chemicals such as bio-monoethylene glycol, bio-monopropylene glycol, industrial sugars and renewable functional fillers. The company has also developed wood-plastic composites under the UPM ProFi name, forming technologies for plywood under UPM Grada, and biomedical and cellulose-based materials through research-oriented businesses. In 2024, UPM announced that it had exited the biocomposites business and planned to exit biomedicals in order to concentrate its development resources.\n\nThe company describes its strategic identity through the term “Biofore,” introduced in 2009 to express a forest industry based on renewable materials, technology and circularity. Its more recent purpose is “We create a future beyond fossils,” while its current corporate messaging emphasizes renewing everyday materials and value chains. UPM operates globally, with manufacturing and processing sites in Europe, China, Malaysia, the United States, Uruguay and other markets. According to its 2025 reporting, the group employed approximately 15,100 people in 42 countries and generated approximately EUR 9.7 billion in annual sales.", "aliases": [ "UPM (company)", "UPM-Kymmene", "UPM-Kymmene Corporation", "UPM-Kymmene Oyj" ], "entityType": "corporate_brand", "l1Slug": "other", "l1": "Other", "l2Slug": "catch-all", "l2": "Catch-all", "l3Slug": "general-companies", "l3": "General Companies", "l4Slug": "companies-general", "l4": "Companies (General)", "country": "Finland", "headquarters": "Helsinki, Finland", "operatingMarkets": [ "Europe", "North America", "Latin America", "China", "Asia-Pacific", "Global industrial markets", "Finland", "Germany", "United Kingdom", "Uruguay", "United States", "Austria", "France", "Poland", "Spain", "Australia", "Other European and international markets" ], "foundedYear": 1996, "founder": "Formed through the merger of Kymmene Corporation · Repola Oy and United Paper Mills Ltd", "website": "https://www.upm.com", "websiteHost": "upm.com", "parentCompany": null, "owner": "Public shareholders", "groupOrHouse": "UPM-Kymmene Corporation", "listedStatus": "public", "ticker": "UPM", "status": "active", "enrichmentStatus": "rich_ok", "typicalProducts": [ "Market pulp", "Sawn timber", "Publication paper", "Newsprint and graphic paper", "Packaging and labelling materials", "Self-adhesive label materials", "Plywood", "Wood-based renewable diesel", "Renewable naphtha", "Wood-based biochemicals", "Renewable functional fillers", "Electricity and energy services", "Timber and sawn wood", "Printing and publication papers", "Specialty papers", "Plywood and veneer products", "Renewable fuels", "Bio-based chemicals and lignin products" ], "flagshipOfferings": [ "UPM BioVerno", "UPM Raflatac label materials", "UPM Plywood", "UPM ProFi", "UPM Grada", "UPM Communication Papers", "UPM Specialty Materials", "UPM Fibres", "UPM Biofuels renewable diesel and naphtha", "UPM Pulp", "UPM Specialty Papers", "UPM Timber", "UPM Biochemicals" ], "positioning": "A globally integrated forest-products and renewable-materials company combining established pulp, paper, timber and plywood businesses with biofuels, bio-based chemicals, label materials and other lower-fossil alternatives.", "wikiPathKey": "UPM_(company)", "wikiTitle": "UPM (company)", "wikidataId": null, "sameAs": [ "https://www.upm.com", "https://en.wikipedia.org/wiki/UPM_(company)" ], "claimStatus": "unverified", "updatedAt": "2026-10-14T18:35:14.692Z", "generatedAt": "2026-10-14T14:57:10.936Z", "executives": [ { "name": "Massimo Reynaudo", "title": "President and Chief Executive Officer", "isCurrent": true, "startYear": 2024, "endYear": null }, { "name": "Henrik Ehrnrooth", "title": "Chair of the Board of Directors", "isCurrent": true, "startYear": 2023, "endYear": null }, { "name": "Aki Temmes", "title": "Executive Vice President, UPM Fibres", "isCurrent": true, "startYear": null, "endYear": null }, { "name": "Gunnar Eberhardt", "title": "Executive Vice President, UPM Communication Papers", "isCurrent": true, "startYear": null, "endYear": null }, { "name": "Harald Dialer", "title": "Chief Technology Officer and Executive Vice President, UPM Next Generation Renewables", "isCurrent": true, "startYear": null, "endYear": null }, { "name": "Kari Ståhlberg", "title": "Executive Vice President, Strategy", "isCurrent": true, "startYear": null, "endYear": null }, { "name": "Mika Kekki", "title": "Executive Vice President, UPM Specialty Materials", "isCurrent": true, "startYear": null, "endYear": null }, { "name": "Riitta Savonlahti", "title": "Executive Vice President, Human Resources", "isCurrent": true, "startYear": null, "endYear": null }, { "name": "Risto Penttinen", "title": "Executive Vice President, Transformation", "isCurrent": true, "startYear": null, "endYear": null }, { "name": "Saara Tahvanainen", "title": "Executive Vice President, Marketing, Sustainability and Communications", "isCurrent": true, "startYear": null, "endYear": null }, { "name": "Sami Pauni", "title": "Executive Vice President and General Counsel", "isCurrent": true, "startYear": null, "endYear": null }, { "name": "Tapio Korpeinen", "title": "Chief Financial Officer and Executive Vice President, UPM Energy", "isCurrent": true, "startYear": null, "endYear": null }, { "name": "Tim Kirchen", "title": "Executive Vice President, UPM Adhesive Materials", "isCurrent": true, "startYear": null, "endYear": null }, { "name": "Tuija Suur-Hamari", "title": "Executive Vice President, UPM Plywood", "isCurrent": true, "startYear": null, "endYear": null }, { "name": "Jussi Pesonen", "title": "President and Chief Executive Officer", "isCurrent": false, "startYear": 2004, "endYear": 2023 }, { "name": "Juha Vanhainen", "title": "President and Chief Executive Officer", "isCurrent": false, "startYear": 2001, "endYear": 2004 } ], "news": [ { "headline": "Uruguay River pulp-mill dispute", "year": 2013, "summary": "UPM’s Fray Bentos pulp mill became part of a prolonged dispute between Argentina and Uruguay over alleged pollution, environmental monitoring and Uruguay’s authorization of increased production. The dispute followed the International Court of Justice’s 2010 finding that Uruguay had violated procedural consultation obligations under the bilateral river treaty, while the court did not find grounds requiring the mill’s closure. Later production increases revived diplomatic and public controversy.", "tags": [ "scandal" ], "isScandal": true, "sourceUrl": "https://en.wikipedia.org/wiki/Uruguay_River_pulp_mill_dispute" }, { "headline": "UPM publishes 2025 annual report", "year": 2026, "summary": "UPM reported approximately 15,100 employees, operations in 42 countries and approximately EUR 9.7 billion in annual sales in its 2025 corporate reporting.", "tags": [ "other" ], "isScandal": false, "sourceUrl": "https://www.upm.com/news-and-stories/releases/2026/03/upm-annual-report-2025-corporate-governance-statement-and-remuneration-report-published/" }, { "headline": "UPM reports full production at Paso de los Toros and Leuna commissioning", "year": 2024, "summary": "UPM reported that Paso de los Toros had reached full production and that commissioning of the Leuna biorefinery had begun, while also recording delays, cost overruns and a EUR 373 million impairment related to Leuna.", "tags": [ "product_launch", "other" ], "isScandal": false, "sourceUrl": "https://www.upm.com/news-and-stories/releases/2025/02/upm-financial-statements-release-2024decisive-actions-to-improve-performance-accelerate-growth-and-deliver-value/" }, { "headline": "UPM acquires Grafityp", "year": 2024, "summary": "UPM Raflatac acquired Belgian graphics-solutions company Grafityp to strengthen its position in graphics materials and broaden the advanced-materials portfolio.", "tags": [ "mna" ], "isScandal": false, "sourceUrl": "https://www.upm.com/news-and-stories/releases/2025/02/upm-financial-statements-release-2024decisive-actions-to-improve-performance-accelerate-growth-and-deliver-value/" }, { "headline": "Massimo Reynaudo appointed President and CEO of UPM", "year": 2024, "summary": "UPM appointed Massimo Reynaudo as president and chief executive officer, succeeding long-serving CEO Jussi Pesonen.", "tags": [ "leadership_change" ], "isScandal": false, "sourceUrl": "https://www.upm.com/news-and-stories/releases/2024/02/massimo-reynaudo-appointed-upms-president-and-ceo/" }, { "headline": "UPM Paso de los Toros pulp mill starts up", "year": 2023, "summary": "The Paso de los Toros pulp mill in Uruguay began operations, adding approximately 2.1 million tonnes of annual eucalyptus-pulp capacity and expanding UPM’s South American platform.", "tags": [ "product_launch" ], "isScandal": false, "sourceUrl": "https://www.upm.com/articles/pulp/23/decades-in-the-making/" }, { "headline": "UPM Finnish mill strike ends after 112 days", "year": 2022, "summary": "A strike by the Finnish Paperworkers’ Union at five UPM businesses ended after the parties accepted separate business-specific collective labour agreements.", "tags": [ "lawsuit", "other" ], "isScandal": false, "sourceUrl": "https://www.upm.com/news-and-stories/releases/2022/04/upm-and-paperworkers-union-agree-on-first-ever-business-specific-collective-labour-agreements--strike-ends-at-upm-mills-in-finland/" }, { "headline": "UPM and the Finnish Paper Workers' Union reached a new collective agreement", "year": 2022, "summary": "Following an extended labor dispute and strike affecting Finnish mills, UPM and the Paper Workers' Union concluded business-specific collective agreements.", "tags": [ "other" ], "isScandal": false, "sourceUrl": "https://www.upm.com/news-and-stories/releases/2022/04/upm-and-the-finnish-paper-workers-union-have-reached-business-specific-collective-agreements/" }, { "headline": "UPM completed the sale of its Shotton newsprint mill", "year": 2021, "summary": "UPM completed the divestment of its Shotton paper mill in the United Kingdom as part of continued portfolio adjustment in declining graphic-paper markets.", "tags": [ "mna" ], "isScandal": false, "sourceUrl": "https://www.upm.com/news-and-stories/releases/2021/10/upm-completes-sale-of-shotton-mill/" }, { "headline": "UPM announces Paso de los Toros pulp-mill investment", "year": 2019, "summary": "UPM announced a large eucalyptus pulp-mill investment in central Uruguay, later raising the estimated total investment to approximately USD 3.47 billion.", "tags": [ "product_launch" ], "isScandal": false, "sourceUrl": "https://www.upm.com/articles/pulp/23/decades-in-the-making/" }, { "headline": "UPM Lappeenranta biorefinery begins renewable-fuel production", "year": 2015, "summary": "UPM began commercial production of wood-based renewable diesel and renewable naphtha at its Lappeenranta biorefinery in Finland, using crude tall oil from pulp production.", "tags": [ "product_launch" ], "isScandal": false, "sourceUrl": "https://www.upm.com/news-and-stories/articles/2015/12/reform-of-the-forest-industry-through-innovation/" }, { "headline": "UPM acquires Myllykoski and Rhein Papier", "year": 2011, "summary": "UPM acquired Myllykoski Corporation and Rhein Papier GmbH, adding publication-paper mills in Germany, Finland and the United States and reshaping its European paper platform.", "tags": [ "mna" ], "isScandal": false, "sourceUrl": "https://en.wikipedia.org/wiki/UPM_(company)" }, { "headline": "UPM closes Miramichi paper mill", "year": 2007, "summary": "The Miramichi paper mill in New Brunswick, acquired by UPM in 2000, was closed amid prolonged structural overcapacity in the graphic-paper sector.", "tags": [ "other" ], "isScandal": false, "sourceUrl": "https://en.wikipedia.org/wiki/UPM_(company)" }, { "headline": "UPM announces major cost-reduction programme and closes Voikkaa mill", "year": 2006, "summary": "In response to global paper overcapacity, UPM announced restructuring measures that included the closure of the Voikkaa paper mill and substantial Finnish job losses.", "tags": [ "other" ], "isScandal": false, "sourceUrl": "https://en.wikipedia.org/wiki/UPM_(company)" }, { "headline": "UPM forms through the merger of Kymmene and Repola", "year": 1996, "summary": "Kymmene Corporation and Repola Oy, including United Paper Mills Ltd, combined to create UPM-Kymmene, establishing the corporate group behind the UPM brand.", "tags": [ "mna", "other" ], "isScandal": false, "sourceUrl": "https://www.upm.com/about-us/company-history/" } ], "encyclopedia": { "history": "UPM’s history combines the development of the Finnish forest industry with the international consolidation of the paper and pulp sectors. The group’s oldest industrial roots reach back to paper and sawmill operations established in Finland during the nineteenth century. Early predecessor businesses expanded into pulp production in the 1880s, paper converting in the 1920s and plywood manufacturing in the 1930s. Over time, a large number of Finnish forest-industry companies, including Kymmene, Kaukas, Kajaani, Halla, Toppila, Wilh. Schauman, W. Rosenlew, Raf. Haarla and Myllykoski, became connected to the corporate lineage that eventually formed UPM.\n\nThe group also inherited a much older European paper-making tradition through Papeteries de Docelles in northeastern France. The mill was associated with hand-made paper production dating to the late fifteenth century and received its first paper machine in the 1830s. UPM later closed the Docelles operation in 2014. Another important historical symbol is the griffin logo. Finnish artist Hugo Simberg’s design was purchased by Kymmene Aktiebolag in 1899 and adopted as the company emblem around the beginning of the twentieth century. A modernized version incorporating the UPM name was created after the 1996 merger.\n\nThe present UPM-Kymmene Corporation was created in 1996 when Kymmene Corporation merged with Repola Oy and Repola’s subsidiary United Paper Mills Ltd. The merger created a broad forest-industry group with operations in paper, pulp, timber, plywood, energy and converting. During the following decade UPM expanded internationally, but the economics of graphic paper became increasingly difficult because of digital substitution and worldwide production overcapacity. In 2000 it acquired the Miramichi paper mill in Canada, but the site was closed in 2007. UPM also undertook a series of mill and sawmill closures during the period.\n\nA major restructuring programme was announced in 2006. The Voikkaa paper mill in Kuusankoski was closed, resulting in the loss of nearly 3,000 Finnish jobs. The site was subsequently redeveloped as a business area. In December 2008, UPM closed the Kajaani paper mill and the Tervasaari pulp mill, affecting approximately 1,100 employees. The former Kajaani premises were later converted into the Renforsin Ranta business park. These closures reflected a strategic effort to reduce capacity and protect profitability rather than a withdrawal from forest products altogether.\n\nThe 2010s brought both further consolidation and the beginning of UPM’s bioeconomy transition. In 2011 the company acquired Myllykoski Corporation and Rhein Papier GmbH, adding several publication-paper mills. It subsequently closed or sold sites including Stracel in France, Docelles in France, Madison in the United States and Schwedt in Germany, while expanding specialty-paper production in China and Germany. Kaipola in Finland was closed in 2020. The company’s paper operations remained important, but its portfolio increasingly included labels, packaging materials, renewable fuels, energy and engineered wood products.\n\nUPM’s first large-scale biofuel step was the Lappeenranta biorefinery in Finland. Construction began in 2012 at the Kaukas mill site, and production began in 2015. The facility converts crude tall oil, a residue from pulp production, into advanced renewable diesel and renewable naphtha. UPM presented the business as an example of moving beyond conventional paper production by integrating refining technology with forest-industry side streams.\n\nUruguay became a second major growth platform. UPM’s forestry research and eucalyptus-development work in the country began before the Fray Bentos mill opened in 2007. The Fray Bentos project helped establish a modern large-scale pulp industry in Uruguay, but it also triggered a serious dispute with Argentina over alleged pollution and the use of the shared Uruguay River. The International Court of Justice found that Uruguay had breached procedural obligations to consult Argentina, but did not order the mill to close on the basis of proven pollution. The issue continued to affect bilateral relations and public discussion of UPM’s environmental record.\n\nIn 2019 UPM announced the Paso de los Toros pulp-mill project in central Uruguay. Construction and associated infrastructure represented one of the company’s largest investments. The mill started up in April 2023 and ultimately added approximately 2.1 million tonnes of annual eucalyptus-pulp capacity. Together with Fray Bentos, plantations, nurseries and port logistics, the Uruguayan platform became central to UPM Fibres.\n\nUPM also moved into wood-based chemicals. In 2020 it announced plans for an industrial-scale biorefinery in Leuna, Germany, initially estimated at EUR 550 million and later revised to approximately EUR 750 million. The plant was designed to produce BioMEG, BioMPG, industrial sugars and renewable functional fillers from solid wood. Commissioning began in late 2024, but the project experienced construction delays and cost overruns. UPM recorded a EUR 373 million impairment in its 2024 financial statements, while maintaining that the long-term business case for replacing fossil-based raw materials remained attractive.\n\nLabour relations became a major operational issue in Finland in 2022, when a strike at five UPM businesses lasted from January until April. The dispute concerned the replacement of a common paper-industry agreement with separate business-specific collective agreements. The settlement created five agreements and allowed production to restart. In parallel, UPM continued to optimize its traditional businesses, including the closure of Plattling and parts of Schongau, the shutdown of the Hürth paper mill, the closure of a Nordland Papier machine and the planned consolidation of Raflatac production from Kaltenkirchen.\n\nUnder Massimo Reynaudo, who became President and CEO on January 1, 2024, UPM has continued to present itself as a material-solutions company rather than solely a paper producer. The company’s current portfolio combines renewable fibres, advanced adhesive and specialty materials, communication papers, energy, plywood and next-generation renewable businesses. It has also narrowed its development focus by exiting biocomposites and planning to leave biomedicals. The resulting strategy seeks to preserve the cash-generating base of the forest industry while directing capital toward products and technologies that can substitute for fossil-based materials.\n\nUPM-Kymmene was established in 1996 through the merger of three major Finnish forest-industry interests: Kymmene Corporation, Repola Oy and United Paper Mills Ltd. The transaction brought together companies with roots in Finland's historic timber, pulp and paper industries. The new group inherited substantial paper, pulp, timber, plywood and energy operations and became one of the country's principal internationally oriented forest-products companies.\n\nIn the years following its formation, UPM expanded its geographic reach and developed an integrated production network. Its operations supplied publication papers, fine papers, label materials, pulp, timber and plywood to customers in Europe and other markets. The company also built a significant presence in self-adhesive labeling through UPM Raflatac and in energy through ownership and generation assets associated with its Finnish industrial base.\n\nThe structural decline of newspaper and magazine circulation, together with the migration of advertising and information to digital media, changed UPM's strategic environment. The group responded by reducing exposure to less competitive graphic-paper capacity, closing or divesting selected mills and emphasizing businesses with stronger positions in specialty papers, labels, pulp, timber, plywood and energy. This did not eliminate paper from the portfolio, but it shifted the company's emphasis from being primarily a large paper producer toward being a more diversified forest-industry and renewable-materials group.\n\nA major strategic theme became the conversion of renewable wood biomass into products beyond traditional paper. UPM developed UPM Biofuels, producing renewable fuels from crude tall oil, a residue of pulp production. It also pursued bio-based chemicals, lignin applications and other technologies intended to replace fossil-based raw materials. The company described this direction through its “Biofore” concept, linking forests, renewable resources and advanced manufacturing.\n\nUPM strengthened its pulp position in Uruguay. Its Fray Bentos mill, which began production in the late 2000s, established a large-scale eucalyptus-pulp base outside Europe. The Paso de los Toros project added a second major Uruguayan pulp mill, with operations beginning in 2023. The investment materially increased UPM's pulp capacity and deepened its reliance on sustainably managed plantation forestry, port logistics and international pulp markets.\n\nThe company has also managed periods of labor tension. In Finland, negotiations between UPM and the Paper Workers' Union culminated in a lengthy strike during 2022. The dispute ended with business-specific collective agreements, reflecting UPM's preference for separate operating-business arrangements rather than a single group-wide agreement.\n\nAs of the 2020s, UPM operates as a listed multinational with business areas spanning pulp, timber, energy, labels, specialty papers, communication papers, plywood and emerging renewable materials. Its ongoing challenge is balancing cyclical exposure to pulp, paper and energy with investment in higher-growth, lower-fossil alternatives. In 2024, Massimo Reynaudo succeeded Jussi Pesonen as president and chief executive officer, marking a leadership transition after two decades under Pesonen.", "milestones": [ { "year": 1899, "title": "Hugo Simberg’s griffin design is acquired", "summary": "Kymmene Aktiebolag purchased Hugo Simberg's griffin drawing, which became the enduring symbol of the company's corporate lineage.", "sourceUrl": "https://www.upm.com/about-us/company-history/thegriffin/" }, { "year": 1996, "title": "UPM-Kymmene is formed", "summary": "Kymmene Corporation merged with Repola Oy and United Paper Mills Ltd, creating UPM-Kymmene Corporation.", "sourceUrl": "https://www.upm.com/about-us/company-history/" }, { "year": 2006, "title": "Voikkaa mill closure announced", "summary": "UPM announced a major cost-reduction programme and closed the Voikkaa paper mill amid global graphic-paper overcapacity.", "sourceUrl": "https://en.wikipedia.org/wiki/UPM_(company)" }, { "year": 2008, "title": "Kajaani paper mill and Tervasaari pulp mill close", "summary": "The closures affected approximately 1,100 jobs and formed part of a wider capacity-reduction programme.", "sourceUrl": "https://en.wikipedia.org/wiki/UPM_(company)" }, { "year": 2009, "title": "Biofore concept introduced", "summary": "UPM introduced \"Biofore\" to describe a forest industry based on renewable materials, technology and new applications.", "sourceUrl": "https://www.upm.com/news-and-stories/articles/2015/12/reform-of-the-forest-industry-through-innovation/" }, { "year": 2011, "title": "Myllykoski and Rhein Papier acquired", "summary": "The acquisition expanded UPM's publication-paper network in Europe and the United States.", "sourceUrl": "https://en.wikipedia.org/wiki/UPM_(company)" }, { "year": 2015, "title": "Lappeenranta biorefinery begins production", "summary": "UPM began producing wood-based renewable diesel and renewable naphtha from crude tall oil in Finland.", "sourceUrl": "https://www.upm.com/news-and-stories/articles/2015/12/reform-of-the-forest-industry-through-innovation/" }, { "year": 2019, "title": "Paso de los Toros investment announced", "summary": "UPM announced a major eucalyptus pulp project in central Uruguay.", "sourceUrl": "https://www.upm.com/articles/pulp/23/decades-in-the-making/" }, { "year": 2020, "title": "Leuna biochemicals investment announced", "summary": "UPM announced plans for a large-scale wood-based biochemicals refinery in Germany.", "sourceUrl": "https://www.upm.com/news-and-stories/releases/2025/02/upm-financial-statements-release-2024decisive-actions-to-improve-performance-accelerate-growth-and-deliver-value/" }, { "year": 2022, "title": "Finnish strike ends with five business-specific agreements", "summary": "A nearly four-month strike ended after UPM and the Paperworkers' Union accepted separate collective labour agreements for five businesses.", "sourceUrl": "https://www.upm.com/news-and-stories/releases/2022/04/upm-and-paperworkers-union-agree-on-first-ever-business-specific-collective-labour-agreements--strike-ends-at-upm-mills-in-finland/" }, { "year": 2023, "title": "Paso de los Toros pulp mill starts operations", "summary": "The new Uruguayan mill began operations and expanded UPM's pulp capacity by approximately 2.1 million tonnes annually.", "sourceUrl": "https://www.upm.com/articles/pulp/23/decades-in-the-making/" }, { "year": 2024, "title": "UPM reports full production at Paso de los Toros", "summary": "The mill reached full production while the Leuna biorefinery entered commissioning and UPM recorded a project impairment related to delays and cost overruns.", "sourceUrl": "https://www.upm.com/news-and-stories/releases/2025/02/upm-financial-statements-release-2024decisive-actions-to-improve-performance-accelerate-growth-and-deliver-value/" }, { "year": 2026, "title": "2025 annual reporting published", "summary": "UPM reported approximately 15,100 employees in 42 countries and approximately EUR 9.7 billion in annual sales for its current group profile.", "sourceUrl": "https://www.upm.com/news-and-stories/releases/2026/03/upm-annual-report-2025-corporate-governance-statement-and-remuneration-report-published/" }, { "year": 1999, "title": "UPM acquires Raflatac", "summary": "UPM expanded its label-materials business through the acquisition of Raflatac, which became a major group business.", "sourceUrl": "https://www.upm.com/about-us/history/" }, { "year": 2007, "title": "Fray Bentos pulp mill begins production", "summary": "UPM's eucalyptus pulp mill in Fray Bentos, Uruguay, began production and became a key part of the company's international pulp platform.", "sourceUrl": "https://www.upm.com/about-us/for-investors/uruguay/" }, { "year": 2015, "title": "UPM Biofuels refinery opens in Lappeenranta", "summary": "UPM opened an industrial-scale refinery in Finland producing renewable fuel from crude tall oil, a residue from pulp manufacture.", "sourceUrl": "https://www.upmbiofuels.com/about-upm-biofuels/" }, { "year": 2024, "title": "CEO transition", "summary": "Massimo Reynaudo became president and CEO, succeeding Jussi Pesonen.", "sourceUrl": "https://www.upm.com/news-and-stories/releases/2024/02/massimo-reynaudo-appointed-upms-president-and-ceo/" } ], "products": [ { "name": "UPM Fibres", "category": "Pulp and timber", "description": "UPM Fibres combines market-pulp and timber operations. Its pulp platform includes Finnish mills and two large eucalyptus-pulp mills in Uruguay, while its timber operations include Finnish sawmills. The business supplies pulp for tissue, packaging and specialty-paper applications and produces sawn timber for construction and other wood-product markets.", "launchedYear": 1996, "status": "active" }, { "name": "UPM Energy", "category": "Electricity generation and energy", "description": "UPM Energy generates and trades low-emission electricity through hydropower, nuclear-power interests and thermal generation. The business is linked to UPM's ownership in Pohjolan Voima and its participation in the Finnish nuclear-power system, alongside direct ownership of Finnish hydropower plants. Energy also supports the electricity needs and operational resilience of UPM's Finnish industrial sites.\n\nUPM Energy generates and sells electricity and participates in Finland's power market. Its generation portfolio includes nuclear and hydropower as well as other energy assets and market activities. Energy also supports the electricity needs and operational resilience of UPM's Finnish industrial sites.", "launchedYear": 1996, "status": "active" }, { "name": "UPM Communication Papers", "category": "Communication and graphic papers", "description": "UPM Communication Papers supplies publication papers, newsprint, magazine paper, office paper and other graphic-paper grades. It serves publishers, printers, advertisers and office users. The business has been reshaped through mill closures, machine shutdowns and capacity optimization as digital media reduced demand for some traditional paper categories.\n\nThis business supplies newsprint, magazine papers, coated and uncoated publication papers and office papers. It serves publishers, printers, advertisers and office users. The portfolio has been adjusted over time as digital media reduced demand for some traditional graphic-paper grades.", "launchedYear": 1996, "status": "active" }, { "name": "UPM Specialty Materials", "category": "Specialty papers and packaging materials", "description": "UPM Specialty Materials develops papers and materials for labelling, packaging, release liners, siliconizing and other specialty applications. The business serves customers seeking paper-based or fibre-based alternatives for packaging and industrial uses, with production in Europe and China.", "launchedYear": 2015, "status": "active" }, { "name": "UPM Adhesive Materials", "category": "Self-adhesive label and graphics materials", "description": "UPM Adhesive Materials, historically associated with the UPM Raflatac brand, produces self-adhesive label materials for food, beverage, personal care, pharmaceuticals, retail, logistics and industrial labelling. The business also supplies graphics solutions and has expanded through acquisitions including Grafityp and Metamark.", "launchedYear": 1996, "status": "active" }, { "name": "UPM Plywood", "category": "Plywood and engineered wood", "description": "UPM Plywood manufactures plywood and engineered wood products from birch and spruce for construction, transport, flooring, packaging, industrial and furniture applications. Its product development has included UPM Grada, a forming technology based on a specialized adhesive film that allows plywood panels to be shaped after manufacture.\n\nUPM Plywood produces plywood and veneer products from birch and spruce for construction, transport, flooring, packaging and industrial applications. The business serves customers that require engineered wood panels with controlled strength, dimensional stability and surface quality.", "launchedYear": 1930, "status": "active" }, { "name": "UPM BioVerno", "category": "Renewable fuels", "description": "UPM BioVerno is a family of advanced wood-based fuels made primarily from crude tall oil, a residue of pulp production. The portfolio includes renewable diesel for transport and renewable naphtha that can be used in fuel blending or as a renewable feedstock in petrochemical applications.", "launchedYear": 2015, "status": "active" }, { "name": "UPM ProFi", "category": "Wood-plastic composites", "description": "UPM ProFi was a wood-plastic composite material made largely from recycled and cellulose-based raw materials. It was used in terraces, patios, piers, playgrounds and other outdoor applications. UPM reported in 2024 that it had exited the biocomposites business, so the product is best treated as a legacy offering.", "launchedYear": 2006, "status": "defunct" }, { "name": "UPM Grada", "category": "Formable plywood technology", "description": "UPM Grada is a plywood technology using a thermoplastic adhesive film that enables panels to be formed after manufacture. The technology was designed for furniture and other applications requiring shaped wood components, and was promoted as recyclable or recoverable at end of life.", "launchedYear": 2012, "status": "active" }, { "name": "UPM Biochemicals", "category": "Wood-based chemicals", "description": "UPM Biochemicals is centered on the Leuna, Germany biorefinery and its planned portfolio of BioMEG, BioMPG, industrial sugars and renewable functional fillers. These materials are intended to replace fossil-based inputs in products such as packaging, textiles, PET, cosmetics, detergents, rubbers and resins. The portfolio also includes lignin-related solutions.\n\nUPM Biochemicals develops wood-based alternatives to fossil-derived chemicals and plastics. The portfolio includes renewable glycols and lignin-related solutions, with applications under development or commercialization in areas such as packaging, composites, coatings, resins and other material systems.", "launchedYear": 2025, "status": "active" }, { "name": "UPM Biomedicals", "category": "Biomedical materials", "description": "UPM Biomedicals developed wood-based cellulose materials for biomedical and life-science applications. The business formed part of UPM's broader biorefining portfolio, but UPM stated in 2024 that it planned to exit biomedicals and focus its development resources elsewhere.", "launchedYear": 2010, "status": "defunct" }, { "name": "UPM Pulp", "category": "Market pulp", "description": "UPM produces and sells chemical pulp for tissue, packaging, specialty papers and other paper-based applications. Its pulp platform includes eucalyptus pulp from Uruguay and pulp produced in Finland. The business is supported by wood procurement, plantation forestry, mill operations and global logistics.", "launchedYear": null, "status": "active" }, { "name": "UPM Specialty Papers", "category": "Specialty papers", "description": "UPM Specialty Papers supplies papers for labels, packaging, release liners, food service and other specialist applications. These products are designed for converting, printing, coating and packaging processes where performance characteristics can be more important than the volume economics of standard publication papers.", "launchedYear": null, "status": "active" }, { "name": "UPM Raflatac", "category": "Self-adhesive label materials", "description": "UPM Raflatac manufactures self-adhesive paper and film label materials for consumer products, logistics, healthcare, retail and industrial uses. Its offerings combine face materials, adhesives and release liners and include products marketed for recyclability, lower material use and improved compatibility with circular packaging systems.", "launchedYear": null, "status": "active" }, { "name": "UPM Timber", "category": "Sawn timber", "description": "UPM Timber supplies sawn softwood products for construction, furniture, packaging and other wood-processing uses. Its operations are connected to Finnish forest resources and sawmills, with products sold to industrial customers and distributors in international markets.", "launchedYear": null, "status": "active" }, { "name": "UPM Biofuels", "category": "Renewable fuels", "description": "UPM Biofuels produces renewable diesel and renewable naphtha from crude tall oil, a residue of the pulp-making process. The products are intended for applications including road transport, aviation-related fuel blending and replacement of fossil feedstocks in chemicals and plastics, subject to applicable specifications and markets.", "launchedYear": 2015, "status": "active" } ], "campaigns": [ { "year": 2009, "name": "Biofore", "markets": [ "Global" ], "summary": "UPM introduced the Biofore concept to communicate a transition from a conventional forest-industry identity toward renewable materials, advanced technology and new bioeconomy applications. The concept connected biological resources, forestry, advanced processing and products intended to reduce reliance on fossil raw materials, and became a long-running corporate platform incorporated into the \"The Biofore Company\" positioning.", "outcome": "The concept became a long-running corporate platform and was incorporated into the “The Biofore Company” positioning.", "sourceUrl": "https://www.upm.com/news-and-stories/articles/2015/12/reform-of-the-forest-industry-through-innovation/" }, { "year": 2018, "name": "UPM Biofore – Beyond fossils", "markets": [ "Global" ], "summary": "UPM reframed its Biofore promise around replacing fossil-based raw materials and developing renewable alternatives across fuels, chemicals, packaging, labels, wood products and paper. The message evolved into the company's stated purpose, \"We create a future beyond fossils.\"", "outcome": "The message evolved into the company’s stated purpose, “We create a future beyond fossils.”", "sourceUrl": "https://www.upm.com/news-and-stories/articles/2018/10/a-future-of-growth-beyond-fossils/" }, { "year": 2023, "name": "We renew the everyday", "markets": [ "Global" ], "summary": "UPM adopted “We renew the everyday” as a corporate communications platform emphasizing the use of renewable fibres and advanced materials in ordinary consumer and industrial products.\n\nUPM adopted \"We renew the everyday\" as a corporate communications platform emphasizing the use of renewable fibres and advanced materials in ordinary consumer and industrial products. The campaign reinforced UPM's repositioning as a material-solutions company rather than a paper-only group.", "outcome": "The campaign reinforced UPM’s repositioning as a material-solutions company rather than a paper-only group.", "sourceUrl": "https://www.upm.com/news-and-stories/we-renew-the-everyday/" }, { "year": 2010, "name": "Biofore", "markets": [ "Global" ], "summary": "UPM introduced and developed the Biofore concept to express its transformation from a conventional paper company into a forest-based renewable-materials business. The concept connected biological resources, forestry, advanced processing and products intended to reduce reliance on fossil raw materials.", "outcome": "Biofore became a central corporate positioning platform used across UPM's communications, sustainability work and new-business development.", "sourceUrl": "https://www.upm.com/about-us/biofore/" } ], "scandals": [ { "year": 2013, "title": "Uruguay River pulp-mill dispute", "summary": "UPM's Fray Bentos pulp mill became part of a prolonged dispute between Argentina and Uruguay over alleged pollution, environmental monitoring and Uruguay's authorization of increased production. The dispute followed the International Court of Justice's 2010 finding that Uruguay had violated procedural consultation obligations under the bilateral river treaty, while the court did not find grounds requiring the mill's closure. Later production increases revived diplomatic and public controversy.", "sourceUrl": "https://en.wikipedia.org/wiki/Uruguay_River_pulp_mill_dispute", "sourceUrls": [ "https://en.wikipedia.org/wiki/Uruguay_River_pulp_mill_dispute" ] } ], "decisions": [ { "year": 2006, "type": "strategy", "title": "Restructure graphic-paper capacity", "context": "Global paper overcapacity and weak economics in some graphic-paper grades pressured UPM’s profitability and led management to pursue capacity reductions.", "action": "UPM closed the Voikkaa paper mill and announced a broader cost-reduction programme, with nearly 3,000 Finnish employees affected at Voikkaa.", "aftermath": "The site was redeveloped as the Voikkaa business area, while further mill closures and restructuring followed in Finland and overseas.", "financials": null, "competitorReactions": [], "sourceUrl": "https://en.wikipedia.org/wiki/UPM_(company)" }, { "year": 2011, "type": "mna", "title": "Acquire Myllykoski and Rhein Papier", "context": "UPM sought to consolidate its publication-paper platform while the graphic-paper market continued to face overcapacity.", "action": "UPM acquired Myllykoski Corporation and Rhein Papier GmbH, adding multiple paper mills in Europe and the United States.", "aftermath": "The transaction expanded UPM’s paper footprint but was followed by additional capacity optimization and site closures as market demand continued to weaken.", "financials": null, "competitorReactions": [], "sourceUrl": "https://en.wikipedia.org/wiki/UPM_(company)" }, { "year": 2012, "type": "product_launch", "title": "Build the Lappeenranta biorefinery", "context": "UPM aimed to create higher-value products from residues generated by pulp production and to enter advanced renewable fuels.", "action": "UPM constructed a biorefinery at its Kaukas mill site to convert crude tall oil into renewable diesel and renewable naphtha.", "aftermath": "The facility was completed in 2014 and production began in 2015, establishing BioVerno as a flagship example of UPM’s bioeconomy strategy.", "financials": { "metric": "Total investment", "before": null, "after": "EUR 179 million", "period": "2014 completion", "sourceUrl": "https://www.upm.com/news-and-stories/articles/2015/12/reform-of-the-forest-industry-through-innovation/" }, "competitorReactions": [], "sourceUrl": "https://www.upm.com/news-and-stories/articles/2015/12/reform-of-the-forest-industry-through-innovation/" }, { "year": 2019, "type": "strategy", "title": "Invest in Paso de los Toros pulp mill", "context": "UPM identified long-term growth potential in eucalyptus pulp and in Uruguay's plantation-based forestry and export infrastructure.", "action": "UPM approved construction of a new eucalyptus pulp mill near Paso de los Toros in central Uruguay, together with related logistics and infrastructure investments.", "aftermath": "The mill started up in April 2023 and reached full production in 2024, substantially increasing UPM’s pulp output and strengthening its Uruguayan operations.\n\nThe project became one of UPM's largest strategic investments and began operations in 2023, expanding the company's global pulp platform.", "financials": { "metric": "Total investment", "before": "USD 2.7 billion initial estimate", "after": "USD 3.47 billion revised estimate", "period": "2019–2023 project development", "sourceUrl": "https://www.upm.com/siteassets/asset/investors/2024/08-24-roadshow-presentation_final.pdf" }, "competitorReactions": [], "sourceUrl": "https://www.upm.com/articles/pulp/23/decades-in-the-making/" }, { "year": 2020, "type": "product_launch", "title": "Develop the Leuna biochemicals refinery", "context": "UPM sought to commercialize wood-based chemicals that could replace fossil-based raw materials in packaging, textiles, PET, cosmetics and industrial products.", "action": "UPM announced an industrial-scale refinery in Leuna, Germany, designed to produce BioMEG, BioMPG, industrial sugars and renewable functional fillers.", "aftermath": "Commissioning began in late 2024, but delays and cost overruns led UPM to record a EUR 373 million impairment in 2024. Commercial production was expected to begin in the second half of 2025.", "financials": { "metric": "Capital expenditure estimate", "before": "EUR 550 million initial estimate", "after": "EUR 750 million revised estimate", "period": "2020–2024 project development", "sourceUrl": "https://www.upm.com/news-and-stories/releases/2025/02/upm-financial-statements-release-2024decisive-actions-to-improve-performance-accelerate-growth-and-deliver-value/" }, "competitorReactions": [], "sourceUrl": "https://www.upm.com/news-and-stories/releases/2025/02/upm-financial-statements-release-2024decisive-actions-to-improve-performance-accelerate-growth-and-deliver-value/" }, { "year": 2022, "type": "strategy", "title": "Adopt business-specific labour agreements", "context": "UPM argued that separate agreements would allow each business to respond more flexibly to its own market conditions. The Finnish Paperworkers’ Union opposed the change from the traditional sector-wide arrangement.", "action": "After a strike lasting from January 1 to April 22, UPM and the union accepted five separate collective labour agreements covering UPM Pulp, Communication Papers, Specialty Papers, Raflatac and Biofuels.", "aftermath": "Employees returned to work, and the new agreements introduced more business-level bargaining and operating flexibility.", "financials": null, "competitorReactions": [], "sourceUrl": "https://www.upm.com/news-and-stories/releases/2022/04/upm-and-paperworkers-union-agree-on-first-ever-business-specific-collective-labour-agreements--strike-ends-at-upm-mills-in-finland/" }, { "year": 2024, "type": "strategy", "title": "Refocus advanced-materials and biorefining portfolio", "context": "UPM reviewed its portfolio amid difficult renewable-fuel markets, changing demand in paper and packaging, and the cost and schedule challenges of the Leuna project.", "action": "UPM decided to exit the biocomposites business, planned to exit biomedicals, simplified parts of UPM Raflatac, consolidated production from Kaltenkirchen and continued to prioritize adhesive materials, specialty materials, pulp and biochemicals.", "aftermath": "The decision narrowed the group’s innovation portfolio and redirected resources toward businesses with stronger strategic or commercial potential.", "financials": null, "competitorReactions": [], "sourceUrl": "https://www.upm.com/news-and-stories/releases/2025/02/upm-financial-statements-release-2024decisive-actions-to-improve-performance-accelerate-growth-and-deliver-value/" }, { "year": 2015, "type": "product_launch", "title": "Launch of industrial-scale renewable-fuel production", "context": "UPM sought to create higher-value products from residues generated by its pulp operations and to expand beyond conventional paper and pulp.", "action": "The company opened a refinery in Lappeenranta, Finland, producing renewable diesel and renewable naphtha from crude tall oil.", "aftermath": "The refinery established UPM Biofuels as one of the company's principal businesses focused on renewable alternatives to fossil-derived fuels and feedstocks.", "financials": null, "competitorReactions": [], "sourceUrl": "https://www.upmbiofuels.com/about-upm-biofuels/" }, { "year": 2021, "type": "strategy", "title": "Portfolio adjustment in graphic papers", "context": "Structural decline in demand for newsprint and other traditional graphic papers increased pressure on older or less competitive production assets.", "action": "UPM continued to close, sell or restructure selected paper mills and production lines while concentrating on competitive communication-paper assets and higher-value businesses.", "aftermath": "The actions reduced exposure to weaker graphic-paper markets and reinforced UPM's transition toward a diversified forest-products and renewable-materials group.", "financials": null, "competitorReactions": [], "sourceUrl": "https://www.upm.com/about-us/strategy/" }, { "year": 2022, "type": "other", "title": "Business-specific collective agreements in Finland", "context": "UPM and the Finnish Paper Workers' Union had been unable to agree on new terms under the previous bargaining arrangement, leading to a prolonged strike at Finnish mills.", "action": "UPM and the union reached separate collective agreements for the company's businesses rather than one single group-wide agreement.", "aftermath": "The agreements ended the strike and formalized a more business-specific labor-relations model within UPM's Finnish operations.", "financials": null, "competitorReactions": [], "sourceUrl": "https://www.upm.com/news-and-stories/releases/2022/04/upm-and-the-finnish-paper-workers-union-have-reached-business-specific-collective-agreements/" } ], "sources": [ { "title": "UPM (company)", "url": "https://en.wikipedia.org/wiki/UPM_(company)" }, { "title": "UPM Company History", "url": "https://www.upm.com/about-us/company-history/" }, { "title": "The Story of the Griffin", "url": "https://www.upm.com/about-us/company-history/thegriffin/" }, { "title": "UPM Governance", "url": "https://www.upm.com/investors/governance/" }, { "title": "UPM Group Executive Team", "url": "https://www.upm.com/sijoittajat/hallinnointi/yhtion-johto/group-executive-team/" }, { "title": "UPM President and CEO", "url": "https://www.upm.com/investors/governance/executive-management/president-and-ceo/" }, { "title": "UPM Annual Report 2025", "url": "https://www.upm.com/siteassets/investors/reports-and-presentations/2025/upm-annual-report-2025.pdf" }, { "title": "UPM Annual Report 2024 and Financial Statements Release", "url": "https://www.upm.com/news-and-stories/releases/2025/02/upm-financial-statements-release-2024decisive-actions-to-improve-performance-accelerate-growth-and-deliver-value/" }, { "title": "UPM and Paperworkers’ Union Agreement", "url": "https://www.upm.com/news-and-stories/releases/2022/04/upm-and-paperworkers-union-agree-on-first-ever-business-specific-collective-labour-agreements--strike-ends-at-upm-mills-in-finland/" }, { "title": "Decades in the Making: UPM’s Uruguay Pulp Expansion", "url": "https://www.upm.com/articles/pulp/23/decades-in-the-making/" }, { "title": "UPM Biofore and BioVerno Innovation", "url": "https://www.upm.com/news-and-stories/articles/2015/12/reform-of-the-forest-industry-through-innovation/" }, { "title": "Uruguay River Pulp Mill Dispute", "url": "https://en.wikipedia.org/wiki/Uruguay_River_pulp_mill_dispute" }, { "title": "UPM history", "url": "https://www.upm.com/about-us/history/" }, { "title": "UPM management", "url": "https://www.upm.com/about-us/management/" }, { "title": "UPM business areas", "url": "https://www.upm.com/about-us/business-areas/" }, { "title": "UPM strategy", "url": "https://www.upm.com/about-us/strategy/" }, { "title": "UPM Biofuels", "url": "https://www.upmbiofuels.com/about-upm-biofuels/" }, { "title": "UPM Uruguay operations", "url": "https://www.upm.com/about-us/for-investors/uruguay/" }, { "title": "https://www.upm.com/", "url": "https://www.upm.com/" } ], "needsReview": true }, "sources": [ { "title": "UPM (company)", "url": "https://en.wikipedia.org/wiki/UPM_(company)" }, { "title": "UPM Company History", "url": "https://www.upm.com/about-us/company-history/" }, { "title": "The Story of the Griffin", "url": "https://www.upm.com/about-us/company-history/thegriffin/" }, { "title": "UPM Governance", "url": "https://www.upm.com/investors/governance/" }, { "title": "UPM Group Executive Team", "url": "https://www.upm.com/sijoittajat/hallinnointi/yhtion-johto/group-executive-team/" }, { "title": "UPM President and CEO", "url": "https://www.upm.com/investors/governance/executive-management/president-and-ceo/" }, { "title": "UPM Annual Report 2025", "url": "https://www.upm.com/siteassets/investors/reports-and-presentations/2025/upm-annual-report-2025.pdf" }, { "title": "UPM Annual Report 2024 and Financial Statements Release", "url": "https://www.upm.com/news-and-stories/releases/2025/02/upm-financial-statements-release-2024decisive-actions-to-improve-performance-accelerate-growth-and-deliver-value/" }, { "title": "UPM and Paperworkers’ Union Agreement", "url": "https://www.upm.com/news-and-stories/releases/2022/04/upm-and-paperworkers-union-agree-on-first-ever-business-specific-collective-labour-agreements--strike-ends-at-upm-mills-in-finland/" }, { "title": "Decades in the Making: UPM’s Uruguay Pulp Expansion", "url": "https://www.upm.com/articles/pulp/23/decades-in-the-making/" }, { "title": "UPM Biofore and BioVerno Innovation", "url": "https://www.upm.com/news-and-stories/articles/2015/12/reform-of-the-forest-industry-through-innovation/" }, { "title": "Uruguay River Pulp Mill Dispute", "url": "https://en.wikipedia.org/wiki/Uruguay_River_pulp_mill_dispute" }, { "title": "UPM history", "url": "https://www.upm.com/about-us/history/" }, { "title": "UPM management", "url": "https://www.upm.com/about-us/management/" }, { "title": "UPM business areas", "url": "https://www.upm.com/about-us/business-areas/" }, { "title": "UPM strategy", "url": "https://www.upm.com/about-us/strategy/" }, { "title": "UPM Biofuels", "url": "https://www.upmbiofuels.com/about-upm-biofuels/" }, { "title": "UPM Uruguay operations", "url": "https://www.upm.com/about-us/for-investors/uruguay/" }, { "title": "https://www.upm.com/", "url": "https://www.upm.com/" }, { "title": "2025 annual reporting published", "url": "https://www.upm.com/news-and-stories/releases/2026/03/upm-annual-report-2025-corporate-governance-statement-and-remuneration-report-published/" }, { "title": "CEO transition", "url": "https://www.upm.com/news-and-stories/releases/2024/02/massimo-reynaudo-appointed-upms-president-and-ceo/" }, { "title": "UPM Biofore – Beyond fossils", "url": "https://www.upm.com/news-and-stories/articles/2018/10/a-future-of-growth-beyond-fossils/" }, { "title": "We renew the everyday", "url": "https://www.upm.com/news-and-stories/we-renew-the-everyday/" }, { "title": "Biofore", "url": "https://www.upm.com/about-us/biofore/" }, { "title": "Total investment", "url": "https://www.upm.com/siteassets/asset/investors/2024/08-24-roadshow-presentation_final.pdf" }, { "title": "Business-specific collective agreements in Finland", "url": "https://www.upm.com/news-and-stories/releases/2022/04/upm-and-the-finnish-paper-workers-union-have-reached-business-specific-collective-agreements/" }, { "title": "UPM完成其Shotton新闻纸厂的出售", "url": "https://www.upm.com/news-and-stories/releases/2021/10/upm-completes-sale-of-shotton-mill/" } ], "jsonLd": [ { "@context": "https://schema.org", "@type": [ "Organization", "Brand" ], "@id": "https://worldbrand.ai/brand-wiki/upm#entity", "name": "UPM", "url": 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