Sep 14, 2006. /Lesprom Network/. Finnish UPM has completed organizational and financial restructuring of the Russian division, UPM PR director Natalya Malashenko said. The reorganization was aimed at enhancement of efficiency, improvement of coordination between enterprises and creation of stable foundation for further development of Russian division. In Russia UPM is engaged in wood products production, felling, sales of paper and paper products, produced by UPM Raflatac и Walki Wisa. “UPM is not novice in Russian market. The reorganization will allow to strengthen UPM position at the market of pulp-and-paper production and wood products, which survives explosion at the moment, that’s why it is priority direction in business development”, vice president of UPM-Kymmene Corporation in Russia Arto Juvonen said. At present, beside sales offices in Moscow and St.-Petersburg the company owns two mills: plywood mill Chudovo-RWS, acquired in June 2005, and sawmilling plant in Pestovo, built in 2004. Furthermore, in November 2005 UPM has acquired Tikhvin complex forestry. Total UPM investments in Russia exceeded Euro 140 million. In May 2006 the company announced additional investments of Euro 5 million in development of Chudovo mill.