UPM Sells Packaging Production to Billerud

UPM sells its packaging paper assets to the Swedish Billerud: UPM sells its packaging paper production to the Swedish packaging paper company Billerud. The transaction includes two packaging paper machines; one in Pietarsaari and one in Tervasaari, Finland. The enterprise value of the transaction is EUR 130 million. The transaction is subject to regulatory approval. The target is to close the transaction during the second quarter of 2012.