UPM Sells Real Estate and Machinery at Aureskoski Mill to Tammiwood Ltd.

Tammiwood Ltd. is part of Tammisto group, which manufactures wooden buildings, constructions and fittings.

April 10, 2013 - UPM said that it has sold the real estate and machinery at its Aureskoski mill in Parkano, Finland, to Tammiwood Ltd. The mill produced interior wood panels.

Terms of the deal will not be disclosed, UPM said.

Production at the Aureskoski mill ceased in December 2012.

Tammiwood Ltd. is part of Tammisto group, which manufactures wooden buildings, constructions and fittings. Tammisto group has four production units in Finland: Eura, Kuhmoinen, Kankaanpää and now also in Parkano.

Four employees working at Aureskoski mill will transfer to Tammiwood as permanent employees, UPM said.

“The sale of Aureskoski site has a positive effect on the economic life in the area. We think that the new owner has a good opportunity to further develop the site,” said Aki Temmes, Director, Business Control, UPM Timber.

Markku Heinonen, Managing Director ofTammiwood Ltd., said, “Aureskoski mill complements our production network and enables wider product range. We aim to start production at the mill by the next autumn.”

SOURCE: UPM