UPM to donate to Finnish universities

UPM donates altogether EUR 500,000 for research and education to five Finnish universities. Each of the following academies will receive a donation of EUR 100,000: University of Oulu, University of Lappeenranta, University of Helsinki, Åbo Akademi and Hanken School of Economics. The donations are distributed to universities representing expertise in different fields and locating in different parts of the country. In March, UPM's AGM authorised the Board to decide to donate no more than 500,000 euros in year 2010.

Earlier this year, the Finnish Forest Industries Federation announced to donate EUR 4 million to the starting endowment of the Finnish Aalto University. UPM is a significant member of the Finnish Forest Industries Federation.

"Top-level scientific research creates a foundation for innovations and international success which are prerequisites for the renewal of the forest industry as well as its future success. We want to support these universities in their work to develop and teach top level knowledge and skills", says UPM President and CEO Jussi Pesonen.

"The Finnish forest industry has a unique position to be the frontrunner of bioeconomy which is based on renewable raw material and recyclable products. The renewal of the forest industry requires large cooperation in the society."