UPM Repurchases Myllykoski Power Plant

UPM, Hllsinki, Finland, is buying back ("redeeming") the Myllykoski power plant from Vamy Oy in accordance with a previous commitment. The redemption is included in the reserves made in connection with the Myllykoski paper mill restructuring plans, the company notes.

Vamy Oy's power plant, located in Myllykoski, Finland, is a combined heat and power plant that has been producing energy mainly to the UPM Myllykoski mill. The power plant has used mainly biofuels and also peat and natural gas as raw materials. The power of the main boiler of the power plant is 88 MW.

Vamy Oy, an affiliated company of Vattenfall AB (100% owned by the Swedish state), is one of Europe's largest generators of electricity and largest producer of heat. UPM consists of three business groups: Energy and pulp, Paper, and Engineered materials. The group employs around 24,000 people and has production plants in 16 countries.

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