UPM Expands Land Ownership in Uruguay for Eucalyptus Plantations
Jan. 20, 2011 - UPM said that its plantation company, Forestal Oriental, has acquired about 25,000 hectares of land in Uruguay from a private land owner for about EUR 65 million.
The purchase was made in order to improve wood procurement options and to support self-sufficiency in wood supply to UPM's Fray Bentos pulp mill, the company said.
About half of the land is either already planted or suitable for eucalyptus plantations, UPM said.
Forestal Oriental is UPM's plantation company in Uruguay. It has been operating since 1990. The company owns about 225,000 hectares of land, out of which about 135,000 ha is used for plantations. The majority of the wood harvested is supplied to UPM Fray Bentos pulp mill.