Versowood acquires UPM’s Korkeakoski sawmill as UPM shifts away from mechanical wood processing

Versowood Oy has acquired UPM’s Korkeakoski sawmill in a transaction announced today. Alongside the deal, the two companies will establish a broad partnership covering Versowood’s sawmill by-products and pulpwood, aimed at generating synergy benefits. As part of the arrangement, UPM will become a minority shareholder in Versowood Oy. Versowood, Finland’s largest private producer of sawn timber, will also become the country’s largest sawmill operator following the acquisition, ranking among the ten largest sawmill operators in Europe. The combined turnover of Versowood and Korkeakoski will exceed EUR 700 million, with production reaching nearly 2 million ...