Finland

Helsinki, Finland, Jan 18, 2011 - Stora Enso’s and Arauco’s joint-venture company Montes del Plata will build a new state-of-the-art 1.3 million tonnes per year pulp mill at Punta Pereira, in the department of Colonia, Uruguay.

Finnish Yle reports on a raw timber cartel, which operated in Finland between 1997-2004. Forest Research Institute Metla estimates the value of direct losses for private forest owners to over one billion Euros. The indirect losses reached a few hundred million Euros.

Helsinki, Finland, 21 Dec 2010 – UPM has prepaid all of the Uruguay Fray Bentos pulp mill investment project loans of USD 372 million. The security arrangements relating to the project loans will be released. The prepayment reduces financing costs and simplifies the Group's financing structure.

Pöyry, the Finnish-based multinational which occupies a prominent position in developing worldswide projects in the pulp and paper sector, agreed to buy 60% of Silviconsult, the second largest Brazilian company in the forest industry.