UPM-Kymmene Corporation’s Board of Directors has decided to initiate a strategic review of UPM Plywood to assess options for maximizing the long-term potential of the Plywood business in an evolving market environment.
The announcement on September 23 outlines a strategic review including a range of possibilities – a potential separation from UPM through for example a divestment, partial demerger or initial public offering.
The aim, UPM says, is to determine the best path forward for the Plywood business, while also benefiting the value creation for UPM’s shareholders.
“UPM has transformed into a material solutions company with a broad portfolio of attractive businesses,” said Massimo Reynaudo, President and CEO of UPM.
“We continuously evaluate opportunities across the portfolio to ensure full value creation potential. The decision to initiate a strategic review of UPM Plywood reflects our commitment to position each UPM business for long-term success.”
“UPM Plywood is a strong, customer-focused business with a clear strategy and a proven ability to perform under varying market conditions,” said Tuija Suur-Hamari, Executive Vice President, UPM Plywood.
“With the efficient production, robust in-house capabilities, and a well-established commercial model, we focus on delivering value to our stakeholders through the trusted WISA brand and our long-standing customer relationships.” Tuija Suur-Hamari, Executive Vice President, UPM Plywood.
During the strategic review process, UPM says it remains fully committed to the Plywood business and its customers.
The review is expected to be concluded by the end of 2026.
UPM Plywood offers plywood and veneer products for construction, vehicle flooring, LNG shipbuilding, parquet manufacturing and other industrial applications. In 2024, UPM Plywood sales were €430m and it employs about 1600 people. UPM has four plywood mills and one veneer mill in Finland as well as a plywood mill in Estonia.
