UPM said the strategic review includes a range of possibilities, including a potential separation from UPM through, for example, a divestment, partial demerger or initial public offering.
Sept. 23, 2025 - UPM-Kymmene Corporation's Board of Directors has decided to initiate a strategic review of UPM Plywood business area to assess options for maximizing the long-term potential of the business in an evolving market environment.
According to UPM, the strategic review includes a range of possibilities, including a potential separation from UPM through, for example, a divestment, partial demerger or initial public offering. The aim is to determine the best path forward for the Plywood business.
"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."
Tuija Suur-Hamari, Executive Vice President, UPM Plywood, noted, "UPM Plywood is a strong, customer-focused business with a clear strategy and a proven ability to perform under varying market conditions. 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."
During the strategic review process, UPM 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 high-quality WISA® plywood and veneer products for construction, vehicle flooring, LNG shipbuilding, parquet manufacturing and other industrial applications. In 2024, UPM Plywood sales were EUR 430 million and it has around 1,600 employees.
UPM is a material solutions company, renewing products and entire value chains with an extensive portfolio of renewable fibres, advanced materials, decarbonization solutions, and communication papers.
SOURCE: UPM