Madison Paper Industries sells related mill assets in the U.S.

Press Release 12/30/2016 2:00 PM UTC

(UPM, Helsinki, 30 December 2016 at 16:00 EET) - UPM-Kymmene Inc. and Northern SC Paper Corp., a subsidiary of the New York Times Company, announced today the sale of Madison Paper Industries' mill site located in Madison, Maine to a joint venture of New Mill Capital Holdings of NY, Perry Videx of Hainesport, NJ and Infinity Asset Solutions of Toronto.

The sale is a continuation of the dissolution of the partnership that was announced in March 2016. The hydro power assets located at the mill site are currently being marketed separate of today's transaction.

For more information, please contact:
Ruud van den Berg, Senior Vice President, UPM Paper ENA, tel. +49 151 1215 8310
Russ Drechsel, President and CEO, Madison Paper Industries, tel. +1-207-696-1228

UPM, Media Relations
Mon-Fri 9:00-16:00 EET
tel. +358 40 588 3284
media@upm.com

About Madison Paper Industries
Madison Paper Industries is a partnership of UPM and Northern SC Paper Corp., a subsidiary of the New York Times Company. The assets include two hydro power plants and numerous properties.

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Through the renewing of the bio and forest industries, UPM is building a sustainable future across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Paper ENA (Europe and North America) and UPM Plywood. Our products are made of renewable raw materials and are recyclable. We serve our customers worldwide. The group employs around 19,600 people and its annual sales are approximately EUR 10 billion. UPM shares are listed on NASDAQ OMX Helsinki. UPM - The Biofore Company - www.upm.com

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