Discussions with the Government of Uruguay progressing - key items aligned
(Thomson Reuters ONE) -
(UPM, Helsinki, 4 May 2017 at 01:00 EET) - "Good progress has been made in the
discussions between the Government of Uruguay and UPM concerning the
infrastructure development and other local prerequisites for long-term
industrial growth in Uruguay. We are now in agreement regarding the majority of
the key items on the negotiation agenda," says Jaakko Sarantola, Senior Vice
President, UPM, Uruguay Platform.
"Some remaining items still need to be solved as we start the work on the
contract language which will specify the mutual responsibilities. Our focus lies
heavily on solving these remaining topics," says Sarantola.
Notes to the editor
In July 2016, UPM commenced discussions with the Government of Uruguay regarding
the prerequisites for long-term industrial development in Uruguay, including
infrastructure development.
The aim of these discussions during the first preparation phase has been to come
to a mutual understanding on an investment agreement that defines the local
prerequisites for industrial investment as well as initiatives for
infrastructure development.
The subsequent second preparation phase would consist of a pre-engineering study
and permitting process, and achieving significant progress in the implementation
of the infrastructure initiatives agreed upon during the first preparation
phase. This phase is expected to last one and a half to two years.
If these two preparation phases are concluded successfully, UPM will initiate
the company's regular process of analysing and preparing an investment decision
regarding a potential pulp mill.
UPM-Kymmene Corporation
Pirkko Harrela
Executive Vice President, Stakeholder Relations
UPM, Media Relations
Mon-Fri from 9:00 to 16:00 EET
tel. +358 40 588 3284
media(at)upm.com
UPM
Through the renewing of the bio and forest industries, UPM is building a
sustainable future across six business areas: UPM Biorefining, UPM Energy, UPM
Raflatac, UPM Specialty Papers, UPM Paper ENA and UPM Plywood. Our products are
made of renewable raw materials and are recyclable. We serve our customers
worldwide. The group employs around 19,300 people and its annual sales are
approximately EUR 10 billion. UPM shares are listed on NASDAQ OMX Helsinki. UPM
- The Biofore Company - www.upm.com
Follow UPM on Twitter | LinkedIn | Facebook | YouTube | Instagram |
upmbiofore.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: UPM via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 04.05.2017 - 00:00 Uhr
Sprache: Deutsch
News-ID 540159
Anzahl Zeichen: 3077
contact information:
Town:
Helsinki
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 141 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Discussions with the Government of Uruguay progressing - key items aligned"
steht unter der journalistisch-redaktionellen Verantwortung von
UPM (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
