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UPM Sells Conservation Forestland Easement to Minnesota

July 9, 2010 - UPM said that it has sold to the State of Minnesota Department of Natural Resources a conservation easement on 187,876 acres (76,000 hectares) of UPM-owned forest land in Northern Minnesota for US$44 million (approximately EUR 36 million).

Under the conservation easement, UPM retains ownership of the land and its Blandin paper mill in Grand Rapids, Minnesota, will continue to use it as a working forest.

The easement provides the public with access for recreational purposes such as hunting, fishing, hiking and snowmobiling in perpetuity, UPM said.

The company's Blandin will continue to manage the forest under its unique Smart Forestry system which is designed to enhance productivity and support economic and environmental sustainability.

The land is certified to comply with the Sustainable Forestry Initiative (SFI), and the Minnesota Department of Natural Resources will conduct audits for compliance, UPM added.

SOURCE: UPM




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