Helsinki (News release) -- 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 Plywood business in an evolving market environment. 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, while also benefiting the value creation for UPM's shareholders.

"UPM has transformed into a material solutions company with a broad portfolio of attractive businesses. 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," says Massimo Reynaudo, President and CEO of UPM.

"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," says Tuija Suur-Hamari, Executive Vice President, UPM Plywood.

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.