The strategic partnership agreement between UPM and Versowood, announced in September 2025, has received the necessary regulatory approvals and the contract has entered into force on December 31, 2025.
Under the agreement, UPM will receive high-quality pulpwood and sawmill by-products from Versowood, which will strengthen UPM's wood supply for its pulp mills in the tight Finnish wood market. UPM, in turn, will supply logs sourced through its own wood procurement to Versowood's sawmills.
In addition, UPM's Korkeakoski sawmill has been transferred to Versowood's ownership and UPM has received a minority shareholding in Versowood.
UPM Fibres
UPM Fibres consists of UPM’s pulp and timber businesses as well as wood sourcing and forestry operations. UPM Pulp has three pulp mills in Finland and two pulp mills and plantation operations in Uruguay.
UPM Timber operates three sawmills in Finland. UPM Forest secures competitive wood and biomass for the UPM businesses, manages UPM-owned and privately owned forests in Northern Europe and offers forestry services to forest owners and forest investors.
