UPM and Versowood sign a long-term agreement that strengthens UPM’s pulpwood supply while securing logs for Versowood’s sawmills. The partnership includes UPM supplying logs from its sourcing operations and receiving pulpwood and sawmill by-products from Versowood, according to UPM.
As part of the deal, UPM will sell its Korkeakoski sawmill in Juupajoki to Versowood and take a minority shareholding in the company. The sawmill has an annual production of 350,000 m3 of pine lumber for domestic and export markets.
Following the transaction, UPM will operate three sawmills in Lappeenranta, Pori, and Pietarsaari while remaining one of Finland’s largest sawn timber producers.
The agreement is subject to regulatory approvals, including clearance from the Finnish Competition and Consumer Authority, expected by the end of 2025.
