Pulp-Paperworld.com / European News

Logo slogan belowKemira, a global chemicals company serving customers in water intensive industries, announces price increases across its coagulant and polymer product lines in the EMEA region.

The price increases, which become effective on January 1st, 2018 or as contracts allow, are necessary due to overall significant and continued increases in costs of both freight and many key raw materials, where the supply-demand situation is challenging.



11-13% for aluminum based coagulants

11-13% for iron sulphate based coagulants

5-7% for iron chloride based coagulants

8% for dry products

9% for emulsions and other liquid polymers

Increases can be higher for specific product types in locations that are most acutely impacted by increased costs.

For more information:

Wido Waelput

Senior Vice President, Commercial, Industry & Water EMEA

tel. +49 17 2884 3496

wido.waelput (a) kemira.com

Harri Eronen

Senior Vice President, Commercial, Pulp & Paper EMEA

tel. +49 17 1802 8790

harri.eronen (a) kemira.com

Kemira is a global chemicals company serving customers in water intensive industries. We provide expertise, application know-how and chemicals that improve our customers' product quality, process and resource efficiency. Our focus is on pulp & paper, oil & gas and water treatment. In 2016, Kemira had annual revenue of around EUR 2.4 billion and 4,800 employees. Kemira shares are listed on the Nasdaq Helsinki Ltd.

The Confederation of European Paper Industries (CEPI) informed the European Commission on 13 November of its intention to take over the PEFCR (Product Environmental Footprint Category Rules) prepared under a larger EU pilot on environmental footprints.

cepi logo“The PEFCR project promised to deliver a clear, simplified and workable method for environmental footprinting that our value chain could effectively use and rely upon.  After more than four year’s work, the European Commission body in charge of the project is far from this objective. CEPI will now take the necessary measures to conclude the project and design a tool that is meaningful for business and workable for SMEs,” says Sylvain Lhôte, Director General at CEPI.

Initiated in 2013, the Intermediate Paper Pilot was meant to deliver a methodology for environmental footprinting of intermediate paper in a clear and workable format for all users. It was considered, at that time, that the workability of future PEF rules was imperative for the paper value chain, particularly SMEs. Led by the European Commission’s Joint Research Centre, however, the project has since been turned into an overly academic tool and the process continuously delayed. 

The industry recognises the value of establishing a reference tool for communicating the environmental performance of paper products to customers and consumers. The industry has therefore decided to take back the lead from the European Commission and revise the PEFCR. In order to do so, CEPI has outlined a number of key steps in a letter sent to the Commission’s environment department here. The process would lead to developing free software for calculating the environmental footprint of intermediate paper, which could be extended by the printing and paper converting associations to a tool for final paper products. CEPI believes these steps are achievable over the 2018 – 2019 period.

CEPI is the pan-European association representing the forest fibre and paper industry. Through its 18 national associations CEPI gathers 495 companies operating more than 900 pulp and paper mills across Europe producing paper, pulp, cardboard, tissue and other bio-based products. CEPI represents 22% of world production, €81 billion of annual turnover to the European economy and directly employs over 175,000 people. 

British master papermaker James Cropper has bolstered its marketing function with the appointment of Richard Bracewell as its new marketing director.

2017 11 14 111631Richard brings a wealth of senior experience to the speciality paper manufacturer, having held a variety of marketing leadership positions at Shell International during a 20-year career.

His roles at the energy company included developing and leading a global automotive servicing business, head of marketing for branded motor oils and head of global sponsorships.

The new appointment signals James Cropper’s commitment to delivering a market leading product and service offer. Richard will oversee the marketing strategy and will play a fundamental role in accelerating the team to meet its objective of continued, sustainable growth.

Commenting on his appointment, Richard said: “I join the business at an extremely exciting time as we increase our focus on developing new and innovative tailor-made products for our customers worldwide. I look forward to contributing to James Cropper’s continued success.”

His appointment follows the successful launch of CupCycling™ by James Cropper. The company now holds the technology to ‘upcycle’ used coffee cups and turn them into luxurious papers for packaging, creative design and print. This world-first for recycling will form a major part in an exciting portfolio of projects planned for 2018.

Steve Adams, managing director at James Cropper, said: “Bringing Richard on board comes as James Cropper moves into a new era and we’re confident that he brings with him the expertise required to carry out such a vital role. I look forward to working alongside him as we continue our brand journey.”

For more information about James Cropper, visit www.jamescropper.com

About James Cropper

James Cropper are prestige paper innovators based in the English Lake District, supplying distinct, custom-made paper products to many of the world’s leading luxury brands, art galleries and designers. Celebrating 170 years of high quality paper production in 2015, the business has been carefully stewarded and nurtured by six generations of the Cropper family and is renowned globally for individual expertise in colour, dedicated responses to the most challenging custom projects and award-winning commitment to the highest standards of sustainability.

A network of global sales and production facilities from Europe to the Far East provides local customer service to international clients, while its historic base in the village of Burneside retains nearly two centuries worth of papermaking expertise.

About Technical Fibre Products (TFP)

As well as paper products, James Cropper plc also incorporates Technical Fibre Products (TFP), manufacturers of non-woven materials from carbon, glass and polymer fibres, which play a key part in production of composites in the automotive, energy and aerospace sectors.

About James Cropper 3D Products

With James Cropper 3D Products, James Cropper plc has created the next generation of sustainable moulded paper packaging. Available in a wide variety of colours and with a naturally tactile finish, the product has a clear focus on quality and is design-engineered to suit all packaging needs. Features to improve product value and packaging integrity, such as personal embossing, natural hinges and cut-outs, enhance brand impact. All packaging products are recyclable and made from 100 per cent renewable natural fibres.

For further information visit: www.jamescropper.com, www.jc3dp.com and www.tfpglobal.com

International technology Group ANDRITZ has received an order from Sappi Saiccor to supply a baling line with bale tracking for its mill in Saiccor, South Africa. Start-up is scheduled for 2018.

The ANDRITZ baling line has a capacity of 250 bales per hour. © ANDRITZThe ANDRITZ baling line has a capacity of 250 bales per hour. © ANDRITZThe order comprises a new baling line with a capacity of 250 bales per hour, machines to connect two existing production lines, and bale tracking for the new and the two existing baling lines. Although there is limited space available, no new building is necessary due to the special space-saving design of the ANDRITZ baling line.

This order once again endorses the excellent cooperation between Sappi Saiccor and ANDRITZ. Only recently, ANDRITZ was awarded an order to supply a new headbox and rebuild the pulp dryer to increase the capacity at the Saiccor mill.

Situated 50 km south of the port of Durban in the province of KwaZulu-Natal, South Africa, the Saiccor mill is one of the production facilities for Sappi Specialized Cellulose. The mill has the capacity to produce approximately 800,000 tons of elemental chlorine free (ECF) dissolving wood pulp (DWP) per annum, mostly for the export market. With the Saiccor mill, the Ngodwana Mill (also in South Africa), and the Cloquet Mill (North America), Sappi Specialized Cellulose is the world’s largest manufacturer of DWP.

ANDRITZ is a globally leading supplier of plants, equipment, and services for hydropower stations, the pulp and paper industry, the metalworking and steel industries, and for solid/liquid separation in the municipal and industrial sectors as well as for animal feed and biomass pelleting. Other important business segments include automation and service business. In addition, the international Group is also active in the power generating sector (steam boiler plants, biomass boilers, recovery boilers, and gasification plants) and in environmental technology (flue gas cleaning plants) and offers equipment for the production of nonwovens, dissolving pulp, and panelboard as well as recycling plants. The publicly listed technology Group is headquartered in Graz, Austria, and has a staff of approximately 25,700 employees. ANDRITZ operates more than 250 sites in over 40 countries.

ANDRITZ PULP & PAPER is a leading global supplier of complete plants, systems, equipment, and comprehensive services for the production and processing of all types of pulp, paper, tissue, and cardboard. The technologies cover the processing of logs, annual fibers, and waste paper; the production of chemical pulp, mechanical pulp, and recycled fibers; the recovery and reuse of chemicals; the preparation of paper machine furnish; the production of paper, tissue, and cardboard; the calendering and coating of paper; as well as the treatment of reject materials and sludge. The service offering includes system and machine modernization, rebuilds, spare and wear parts, on-site and workshop services, optimization of process performance, maintenance and automation solutions, as well as machine relocation and second-hand equipment. Biomass, steam, and recovery boilers, as well as gasification plants for power generation, flue gas cleaning plants, plants for the production of nonwovens, dissolving pulp, and panelboard (MDF), as well as recycling plants are also part of this business area.

As a next step in the capacity development of Rottneros Mill, Rottneros’ Board has granted further investments in the CTMP line. The investment, CTMP Step 2, increases capacity by approximately 18,000 tonnes per year and is expected to be operational in the fall of 2018. The investment follows the strategic development plan Agenda 500, where a first capacity-enhancing investment in the CTMP line was made in 2016. Within Agenda 500, Rottneros Mill has put into operation a bio mass boiler in the third quarter of 2017 that replaces an oil-based boiler and made the mill practically fossil-free. The expansion of the purification plant is an ongoing investment that is expected to be put into operation in 2018.

rott logoThe Rottneros Mill has a strong position as a supplier of high yield pulp. With increased capacity, we ensure that Rottneros can be a reliable supplier of CTMP and an attractive partner for our customers, says Lennart Eberleh, President and CEO of Rottneros AB.

The Vallvik Mill was granted a new environmental permit in 2016 which allows production of 255,000 tonnes of chemical pulp per year. The permit also includes increased requirements regarding sulfur emissions. In order to meet the requirements, the mill will invest in a weak gas collection system. Final negotiations with the potential suppliers will begin immediately.  The investment is expected to be put into operation in Q4 2018.

Agenda 500 includes both environmental and capacity investments. For Vallvik Mill, the investment in the weak gas collection system is another environmental investment to ensure the long-term sustainability of the mill, comments Lennart Eberleh, President and CEO of Rottneros.

About Us

Rottneros is an independent producer of market pulp. The Group comprises the parent company Rottneros AB, listed on NASDAQ Stockholm, and its subsidiaries Rottneros Bruk AB and Vallviks Bruk AB with operations involving the production and sale of market pulp. The Group also includes Rottneros Packaging AB, which manufactures fibre trays, and the wood procurement company Rottneros Baltic SIA in Latvia. The Group has just over 280 employees and had a turnover of approximately SEK 1.7 billion in the 2016 financial year.

BillerudKorsnäs has been awarded a Gold rating from EcoVadis for the fourth year in a row. The annual evaluation of 30,000 suppliers shows that BillerudKorsnäs is among the top 1 percent of all companies assessed.

2017 11 13 090234EcoVadis is the leading system for evaluating suppliers' environmental aspects, working conditions, corporate social responsibility and subcontractors. Multinational brands with high ethical ambitions use the system to evaluate their supply chains in turn.

This year’s evaluation shows that BillerudKorsnäs is among the very best of all companies in the same industry and is also in the top percentage rank among all companies assessed, regardless of industry. It also shows that BillerudKorsnäs improved even more this year.

"EcoVadis confirms that our sustainability is at a high level and that we have structured work on environment and working conditions, clear guidelines regarding ethical issues and a systematic approach with our suppliers. The fact that we received very high scores in all areas assessed, well above the average of the group of paper and cardboard manufacturers we are compared to, and that we have received higher rankings every year since the first evaluation in 2013 is really pleasing,” says Bengt Brunberg, responsible for reporting on sustainability initiatives.

The EcoVadis method is based on internationally adopted principles for sustainability reporting, such as GRI (Global Reporting Initiative), United Nations Global Compact and ISO 26000, and is audited by independent sustainability experts.

Read the result in the attached BillerudKorsnäs' Sustainability Profile 2017

More about EcoVadis at http://www.ecovadis.com/

BillerudKorsnäs provides packaging materials and solutions that challenge conventional packaging for a sustainable future. We are a world-leading provider of primary fibre based packaging materials and have customers in over 100 countries. The company has 8 production sites in Sweden, Finland and the UK and about 4300 employees in over 13 countries. BillerudKorsnäs has an annual turnover of about SEK 22 billion and is listed on Nasdaq Stockholm. www.billerudkorsnas.com

Smurfit Kappa is now working with 70% of leading European e-retail brands, the packaging solutions company said as it announced the new name for its e-retail offering – eSmart. This is the culmination of years of experience helping e-retailers optimise opportunities in the online sales space. eSmart guides companies through 12 key areas relating to the optimisation of e-retail processes, supply chain efficiency and delivering a superior consumer experience.

Edwin Goffard, COO Corrugated Europe, says: “As online sales grow and consumer expectations evolve in an increasingly digitalised world, the pressure is on for brand owners and e-retailers to stand out from the crowd. Packaging plays a vital role in helping businesses grow profitably, manage supply chain complexity, and deliver the right brand experience.”

2017 11 13 075842

“By bringing our e-retail offering together under the eSmart umbrella, we are making it even simpler for companies to find the packaging solutions that make business sense. We’re delighted to partner with so many leading online retailers including Zalando and CDiscount and we look forward to working with more brands to help them unlock the opportunities that will support future success.”

Smurfit Kappa also announced that its eSmart service has enabled one of the UK’s fastest growing online retailers to save £250,000 annually. Using the eSmart process to analyse its online businesses, Smurfit Kappa helped The Hut Group to streamline its packing process, driving efficiencies across the supply chain.

Additionally, thanks to the eSmart service, leading food delivery service HelloFresh was able to optimise its e-retail process with a solution that not only delivered a superior customer experience but increased packing space by 17% and pallet fill by 13%.

Luke Grob, Product and Innovation Director at HelloFresh, said: “It’s essential for us to always keep our customers at the heart of everything we do. At each step of the design process, Smurfit Kappa shared our vision and passion for customer-centric attention to detail.”

More information about eSmart can be found here: http://info.smurfitkappa.com/esmart

About Smurfit Kappa

Smurfit Kappa, a FTSE 100 company, is one of the leading providers of paper-based packaging solutions in the world, with around 45,000 employees in approximately 370 production sites across 34 countries and with revenue of €8.2 billion in 2016. We are located in 21 countries in Europe, and 13 in the Americas. We are the only large-scale pan-regional player in Latin America.

With our proactive team we relentlessly use our extensive experience and expertise, supported by our scale, to open up opportunities for our customers. We collaborate with forward-thinking customers by sharing superior product knowledge, market understanding and insights in packaging trends to ensure business success in their markets. We have an unrivalled portfolio of paper-packaging solutions, which is constantly updated with our market-leading innovations. This is enhanced through the benefits of our integration, with optimal paper design, logistics, timeliness of service, and our packaging plants sourcing most of their raw materials from our own paper mills.

Voith Paper concluded, in October, the start-up of the new XcelLine VTM 3 tissue machine it has supplied to US tissue and specialty paper manufacturer Little Rapids Corporation. The new machine has replaced the company’s old PM 3 at its Shawano production facility in Wisconsin.

The new VTM 3 went online six days ahead of the contract schedule, thereby achieving a total plant downtime of just 30 days from paper to paper, that is, between dismantling the previous equipment and erecting and starting-up the new machine. Besides this outstanding achievement, the second jumbo roll of tissue paper already provided marketable quality, and the machine reached its maximum operating speed during its first week in service.

All of the new VTM 3’s technologies and components are seamlessly coordinated and integrated with each other. Besides the new XcelLine tissue paper machine and its auxiliary equipment – not counting the Yankee cylinder, which has been reused from the old machine – Voith’s scope of supply also included stock preparation and approach flow systems, a steam box, a gas hood, and a mist removal and dust reduction system. The order was rounded off by Voith's automation package, comprised of the DCS and MCS systems, as well as field services.

XcelLine VTM 3 Little RapidsXcelLine VTM 3 Little Rapids

This project’s key benefits include an improvement in paper quality and increased production capacity, since the new machine will now be producing at a speed of more than 1,800 meters per minute.

All of these measures are not only indicative of the project’s enormous success, but also the outstanding synergy between the Voith, Little Rapids Corporation, and Contract Companies teams. “We are extremely proud of the teamwork demonstrated by all parties involved to safely execute the rebuild within a very compressed timeframe. We are also encouraged by the performance that we are seeing at this early stage of the machine’s start-up ramp and optimistic that this investment will provide additional capabilities and quality enhancements that our customers value,” said Ron Thiry, Vice President and General Manager at Little Rapids Corporation.

About Little Rapids Corporation
Little Rapids Corporation was founded by Charles Egan in 1947 and remains a family-owned business. The company’s core product lines serve the medical and beauty market segments, flexographic printing for a variety of packaging markets, and tissue, MG paper, and wet crepe paper for the specialty paper market. With headquarters and manufacturing facilities in Green Bay, the company, which employs 450, also has a paper manufacturing facility in Shawano, Wisconsin. In addition, the company donates to the region via the Little Rapids Corporation - Egan Family Foundation, a private foundation established by the Egan family in 1986 with the mission to fund charities in communities where Little Rapids Corporation has facilities.

About Voith Paper
Voith Paper is a Group Division of Voith and the leading partner and pioneer in the paper industry. Through constant innovations, Voith Paper is optimizing the paper manufacturing process, focusing on developing resource-conserving products to reduce the use of energy, water and fibers. Furthermore, Voith Paper offers a broad service portfolio for all sections of the paper manufacturing process.

About Voith
For 150 years, Voith’s technologies have been inspiring customers, business partners and employees worldwide. Founded in 1867, Voith today has around 19,000 employees, sales of €4.3 billion and locations in more than 60 countries worldwide and is thus one of the largest family-owned companies in Europe. Being a technology leader, Voith sets standards in the markets of energy, oil & gas, paper, raw materials and transport & automotive.

Friday, 10 November 2017 11:06

Domtar is Making Xerox Paper Even Better

In 2013, the Xerox® Paper and Specialty Media line joined the Domtar family of paper products. Today, with updated packaging and several product enhancements, the Xerox Paper brand is stronger than ever.

Our colleagues worked diligently to ensure that the Xerox Paper brand was successfully integrated into our product portfolio and that it maintained the quality people had come to expect from the brand. They also looked for ways to streamline or improve the product line in order to offer customers a wide range of the highest-quality printing options.

2017 11 10 110553

Meredith Collins, Xerox Paper brand marketing manager, said the process has been challenging but rewarding.

“We wanted to clearly reestablish the brand to make it a premium line, with products that people buy for better results,” Collins said.

Rethinking the Xerox Paper Brand

The integration process involved redesigning the packaging and enhancing the product line.

“One of the most significant things we’ve done is make the packaging more appealing and easier to understand,” she said. “We chose words carefully, to really speak to the customer in language that conveys quality — words like ‘brighter,’ ‘whiter’ and ‘sturdier.’ Those words are more effective with consumers than industry terms like ‘caliper’ or ‘98 brightness.’”

But it wasn’t all about the words. The Xerox Paper and Specialty Media line was enhanced to offer top quality and the right product mix.

“By streamlining the product line, we are now able to focus on the products that are in the greatest demand,” Collins said. “It will be easier for our sales team to identify customer needs and offer the most effective solutions.”

Three Quality Xerox Paper Lines

Domtar is the primary manufacturer of the Xerox Vitality™ Office Papers line, which many businesses and offices use for everyday copy paper. The brand is sold in various stores, including Staples and CVS, as well as online in the United States and Canada.

Another line of quality Xerox Paper that Domtar manufactures is the Xerox Bold™ Professional Office and Digital Printing Papers line. Designed to help customers make a good impression, the line is engineered and optimized for printing, resulting in crisp text, vivid colors and outstanding images.

Xerox Revolution™ Specialty Media is a line of specialized papers, films and materials that allow customers to create printable and customizable business-building tools. Although the majority of the Xerox Revolution products are manufactured by our partners, Domtar fiber is often used in the construction of these specialty products.

The production of our Xerox Paper and Specialty Media line involves nearly every part of our Pulp and Paper division. Several Domtar paper mills manufacture paper in the Xerox line: Ashdown, Windsor and Kingsport mills produce Vitality grades; Johnsonburg and Rothschild mills make Bold grades; and Hawesville and Nekoosa manufacture Pastels. The majority of our converting facilities are qualified to convert Xerox-branded paper.

“It’s neat to see how many people touch the products,” Collins said. “In the past few years, across the division, we’ve been proud to take a good product line and make it better.”

UPM and the Government of Uruguay have signed an investment agreement, which outlines the local prerequisites for a potential pulp mill investment. The agreement details the roles, commitments and time-line for both parties as well as the relevant items to be agreed prior to the final investment decision.

upm logoThe agreement defines the requirements for the operating environment of a world-class pulp mill project. The site of the mill would be close to the city of Paso de los Toros, in the department of Durazno in central Uruguay.

A long-term industrial operation requires stable and predictable operational environment. This will be supported by several measures in the areas of regional development, environment, forestry and land planning as well as labour and energy conditions.

Infrastructure development as key enabler 

The Government will develop the rail and road network by tendering the construction and long-term maintenance of the network. The total investment by the Government has been reported to be approximately USD 1 billion. This investment is necessary to enable the establishment of efficient logistic infrastructure in the Uruguayan inland. The Government will also promote concession for a terminal specializing in pulp in the Montevideo port with rail access in order to secure reliable and competitive outlet to export markets.

Once the permitting requirements are fulfilled, the Government will grant the mill a free trade zone status, which is necessary to ensure competitiveness on international markets.

UPM will carry out an engineering study and permitting process for a pulp mill with an annual capacity of about 2 million tonnes of eucalyptus market pulp. The preliminary estimate for a pulp mill investment on site is approximately EUR 2 billion.

In addition, a successful project requires off-site investments in plantation land and forestry, road network and nursery capacity, harvesting and transport equipment, rolling stock for the rail, export facilities and human development.

"Robust infrastructure is elemental for industrial development. The Government of Uruguay is stating their serious intent with this agreement and timeline. The agreement sets the foundation for UPM's planning of a state-of-the-art pulp mill investment," says Jaakko Sarantola, UPM's Senior Vice President, Uruguay Development.

Global demand for sustainable pulp continues its strong growth

"A competitive world-class pulp mill must have a solid wood supply, well-working logistic infrastructure and efficient mill operations. The environmental performance of the mill would be secured with competent and engaged personnel and with best available technology. When in operation, the mill, forestry and related activities would employ 8,000 additional people in its full value chain. The operations would also have a significant positive impact on the central and north-eastern regions."

"The signing of this agreement confirms that we are now entering the second preparation phase of this prospect, which is expected to take some 1.5 to 2 years. Achieving significant progress in the implementation of the infrastructure initiatives is critically important for the final investment decision," says Sarantola.

"The world megatrends support a strong growth of the market pulp demand. UPM's customers value the stable quality of the Uruguayan eucalyptus pulp and hence Uruguay could be a competitive alternative for addressing UPM's pulp market opportunities in the 2020s. The possible new capacity in Uruguay would support UPM's multifibre strategy; to serve customers in growing hygiene, packaging and speciality end-use segments," concludes Sarantola.

In July 2016, UPM commenced discussions with the Government of Uruguay regarding the prerequisites for long-term industrial development in Uruguay. The aim of these discussions during the first preparation phase was 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 investment agreement was signed 7 November 2017.

The subsequent second preparation phase consists of an engineering study, tendering and permitting process as well as achieving significant progress in the implementation of the agreed infrastructure initiatives. Any relevant items are to be agreed prior to the possible final investment decision. This second phase is expected to last 1.5 to 2 years.

If these two preparation phases are concluded successfully, UPM will initiate the company's regular process of analysing and preparing an investment decision.

UPM in Uruguay

UPM's operations in Uruguay include the Fray Bentos pulp mill, the UPM Forestal Oriental forestry and wood sourcing company with its two nurseries, as well as the UPM Foundation.

UPM Forestal Oriental manages about 250,000 hectares of plantable land including own and Fomento partner producers' land. All of UPM's forest plantations are certified.

The Fray Bentos pulp mill started operations in 2007 and remains one of the world's most modern and efficient pulp mills. Its annual production capacity is 1.3 million tonnes of eucalyptus pulp. Besides pulp, the Fray Bentos mill is a significant biomass-based energy producer, accounting 8% of Uruguay's total energy production. The mill's wood raw material comes from sustainably managed local plantations.

Founded in 2006, the UPM Foundation works in coordination with local stakeholders to promote the development of rural communities through education, training and entrepreneurship, fostering a culture of safety and healthy living.

UPM employs directly and indirectly altogether 7,000 people in Uruguay and its contribution to Uruguay's GDP is 1.4%. www.upm.uy


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