Business
The Board of Directors of UPM-Kymmene Corporation has approved a demerger plan concerning the separation of the Plywood business into a new listed company
UPM-Kymmene Corporation Stock Exchange Release (Other information disclosed according to the rules of the exchange) April 29, 2026 at 12:00 EEST
About this update from Upm-kymmene Oyj
HELSINKI, May 5, 2026 /PRNewswire/ -- UPM-Kymmene Corporation Stock Exchange Release (Other information disclosed according to the rules of the exchange) April 29, 2026 at 12:00 EEST The Board of Directors of UPM-Kymmene Corporation has approved a demerger plan concerning the separation of the Plywood business into a new listed company UPM-Kymmene Corporation ("UPM", the "Company") announced on September 23, 2025, a strategic review of the UPM Plywood business area to assess options for maximizing its long-term potential in an evolving market environment. UPM's Board of Directors has today approved a demerger plan concerning the separation of UPM Plywood business area into a new independent listed company, to be named WISA Group Plc. The demerger is subject to approval by UPM's Extraordinary General Meeting expected to be held in early September 2026 at the latest. The planned completion date of the demerger is October 31, 2026. A demerger and listing prospectus will be published separately. Based on the strategic review, the Board of Directors of UPM has approved a demerger plan concerning a partial demerger of UPM. According to the demerger plan, UPM will demerge so that all assets and liabilities of UPM relating to the UPM Plywood business area, or mainly serving the UPM Plywood business area, are transferred to WISA Group Plc ("WISA Group"), a company to be established in the demerger (the "Demerger"). UPM intends to apply for admitting the shares of WISA Group for trading on the official list of Nasdaq Helsinki Ltd ("Nasdaq Helsinki"). Upon the completion of the Demerger, WISA Group would initially have the same shareholder structure as UPM. Strategic rationale of the Demerger According to the assessment of the Board of Directors of UPM, the separation of the Plywood business area into a new publicly listed company would increase shareholder value by creating an integrated platform focused solely on pursuing the strategic priorities and growth opportunities of the Plywood business area. The separation will also simplify governance and decision-making structures, foster more direct accountability, and enhance UPM's focus on its core businesses. It will also provide increased visibility to investors into key value drivers specific to the Plywood business area, which can facili...