traded as nasdaq helsinki upm1v otcqx upmky industry paper pulp and timber founded 1996 ; 20 years ago 1996 headquarters helsinki finland key people bj rn wahlroos chairman jussi pesonen president and ceo products publication and fine paper wood products revenue 10.138 billion 2015 1 operating income 898 million 2015 1 profit 916 million 2015 1 total assets 14.193 billion 2015 1 total equity 7.944 billion 2015 1 number of employees 19 578 2015 1 website www.upm.com upm paper mill in jakobstad finland . upm kymmene corporation finnish upm kymmene oyj ; 2 usually referred to simply as upm is a finnish forest industry company . upm kymmene was formed by the merger of kymmene corporation and repola ltd and its subsidiary united paper mills ltd in 1996 . 3 upm consists of six business groups upm biorefining upm energy upm raflatac upm paper asia upm paper ena and upm plywood . 4 the group employs around 21 000 people and it has production plants in 14 countries . 5 upm shares are listed on the nasdaq omx helsinki stock exchange . upm is the only paper company which is listed in the dow jones sustainability indices 6 and the only forest industry company invited to the united nations global compact lead sustainability leadership platform . 7 upm is the owner and maintainer of the verla mill which has been a museum since 1972 and a unesco world heritage site since 1996 . 8 contents 1 board of directors 2 group executive team 3 history 3.1 2000 2010 3.2 2010 4 businesses 4.1 business areas 4.2 upm biorefining 4.3 upm energy 4.4 upm raflatac 4.5 upm paper asia and upm paper ena 4.6 upm plywood 4.7 other businesses 5 environment and responsibility 5.1 biofore 6 global operations 6.1 china 6.2 france 6.3 germany 6.4 uk 6.5 uruguay 6.6 indonesia 6.7 table of production sites 7 biofuels 7.1 biorefinery 7.2 biodiesel 7.3 bio oil 8 research and development 8.1 upm grada 8.2 upm profi 8.3 upm formi 8.4 upm biofibrils 8.5 world design capital helsinki 2012 9 see also 10 references 11 external links board of directors edit members as of march 9 2015 bj rn wahlroos chairman berndt brunow deputy chairman piia noora kauppi wendy e. lane jussi pesonen veli matti reinikkala kim wahl ari puheloinen suzanne thoma henrik ehrnrooth 9 group executive team edit members as of march 21 2014 jussi pesonen president and ceo pirkko harrela executive vice president stakeholder relations tapio korpeinen cfo executive vice president upm energy juha m kel general counsel jyri ovaska executive vice president technology riitta savonlahti executive vice president human resources heikki vappula executive vice president upm biorefining kim poulsen executive vice president upm paper asia bernd eikens executive vice president upm paper ena mika sillanp executive vice president upm plywood kari stahlberg executive vice president strategy 10 history edit the company s oldest mill was papeteries de docelles located in northeastern france which produced traditional handpaper at the end of 15th century . the mill got its first paper making machine in 1830 s. upm docelles was disbanded in 2014 . 11 the company has a long tradition of forest industries in finland . there the company s first paper mills and sawmills were put into operation in the beginning of the 1870s . pulp manufacturing began in the 1880s and paper converting in 1920 s. the company started manufacturing plywood in the 1930s . several finnish forest industry companies have merged with the forerunner companies of upm such as walkiakoski j ms nkoski kaukas halla kajaani toppila kymmene kuusankoski kymi voikkaa lohjan paperi oy wilh . schauman w. rosenlew raf . haarla and myllykoski . 12 the company logo the griffin was designed by hugo simberg in 1899 . it is probable that the griffin was chosen as the company logo because it represents a guardian of the northern forests . the griffin logo is the oldest continuous company logo in finland . 3 2000 2010 edit due to worldwide overproduction of paper upm announced a cost reduction program in 2006 . voikkaa paper mill in kuusankoski was closed . nearly 3 000 employees in finland were laid off . 13 after the closure the area has been transformed into voikkaa business area . 14 the repap mill in miramichi new brunswick which was purchased by upm in 2000 15 was closed in 2007 because of economic pressures in the north american forest industry . 16 in september 2008 upm closed kajaani paper mill and tervasaari pulp mill . 1 100 employees were laid off . 17 the former premises of the kajaani mill were turned into a business park called renforsin ranta . 18 in 2009 upm shotton paper won the queen s award for enterprise . 19 2010 edit in 2010 upm announced it will acquire myllykoski corporation and rhein papier gmbh which consists of seven publication paper mills in germany finland and the united states . the transaction has been approved by regulatory authorities in 2011 . 20 in 2011 upm s environmental investments totalled eur 14 million 18 million the largest being low nox burners for gas boilers at the schongau paper mill in germany . businesses edit upm products include pulp paper plywood sawn timber labels and composites bioenergy biofuels for transport biochemicals and nano products . the company is the world s leading producer of graphic papers and second largest producer of self adhesive label materials . the energy business group produces electricity with nuclear power water power condensing power and wind power . upm is the second largest owner of nuclear power in finland with 541 megawatts through owning over 40 % of nuclear operator pohjolan voima . upm began the production of coated fine paper sheets at its kymi mill in kouvola in autumn 2012 . in 2014 a upm biorefinery was built in lappeenranta finland . the refinery produces renewable diesel for traffic use . business areas edit upm has been restructured into six business groups in the fall of 2013 . these groups are connected with a common idea to create value from renewable and recyclable raw materials by synthesizing them with know how and technology . 21 upm biorefining 22 upm energy 23 upm raflatac 24 upm paper asia 25 upm paper ena 25 upm plywood 26 upm biorefining edit upm biorefining 22 consists of pulp paper and biofuel functions . upm has four modern pulp factories three in finland and one in uruguay and also four mills in finland . 27 in 2014 a biorefinery producing renewable biodiesel will commence operating in lappeenranta . the pulp factories produce 3 5 million tons of high quality pulp annually . 27 55 6 % of the companys profits came from biorefining in 2014 . 28 upm energy edit upm energy 23 produces electricity from water nuclear condensate and wind . upm is the second largest nuclear owner in finland . upm owns 44 3 % of pohjolan voima oy 27 which produces around 15 twh annually . upm also owns 9 hydro power plants in finland . 27 upm energy made 33 9 % of the companys profits in 2013 . 29 upm raflatac edit upm raflatac 24 is a leading global supplier of pressure sensitive labeling solutions . upm raflatac paper and film laminates are used for product and information labeling across a wide range of end uses from pharmaceuticals and security to food and beverage applications . upm paper asia and upm paper ena edit upm has 20 paper mills in finland germany great britain france austria china and the united states . several of the factories work simultaneously as recycling centres and as producers of bioenergy . compared by revenue paper production is still the largest business group of the company . 29 upm plywood edit upm is the biggest plywood manufacturer in europe . the plywood operations consists of seven factories in finland estonia and russia . 26 other businesses edit upm offers a wide selection of different services for forest owners . upm possesses 825 000 hectares of forest in finland . all of the companys forests are certified . 30 most of the wood needed for the upm factories is acquired from private forests of finland . upm is acquiring all kinds of wood and uses it to produce pulp paper plywood and energy . upm is the biggest private landowner in finland . 31 upm refines upm bonvesta properties from its real estates . environment and responsibility edit the production of upm is based on renewable raw materials which are biodegradable and recyclable . every upm pulp and paper mill in europe and the upm frey bentos in uruguay are emas certified . in 2013 the paper mill in changshu was the first paper mill in china to receive such a certificate . 78 % of electricity produced by the company is carbon dioxide neutral . 32 upm is the only paper company which is listed in the dow jones sustainability indices 6 and the only forest industry company invited to the united nations global compact lead sustainability leadership platform . the company s key areas in environmental responsibility are sustainable products climate water forest and waste . biofore edit upm has created the biofore term to describe new forest industry . bio stands for sustainable solutions and environmental performance . fore stands for forest and the company s position at the forefront of the development.the biofore term is also used in the companys slogan upm the biofore company . 33 global operations edit upm s products are manufactured in 14 countries and the company has a worldwide sales network . upm s production plants are located in austria brazil china estonia finland france germany malaysia poland russia spain uk uruguay and usa . 34 china edit upm owns two production units in china upm changshu paper mill and upm raflatac changshu labelstock factory . changshu is located in the province of jiangsu by the yangtze river some 100 km from shanghai . in 2012 upm announced that it will build a new woodfree speciality paper machine at its changshu mill in china . the machine will start up by the end of 2014 . 35 france edit upm owns two production units in france . the upm chapelle darblay paper mill located near rouen france s major port for wood and paper products and the labelstock factory upm raflatac pompey nancy located in pompey 10 km north of nancy and 40 km south of metz . germany edit upm owns 8 production units in germany . paper mills upm augsburg paper mill located by the river lech in the city of augsburg a town in southern germany some 65 km from munich upm ettringen paper mill in the town of ettringen upm h rth paper mill located in the town of h rth upm nordland papier located in d rpen a village in northwestern germany some 250 km from hamburg upm plattling paper mill located in the town of plattling upm schongau paper mill located in the city of schongau a town in upper bavaria upm schwedt paper mill located in uckermark in brandenburg near the german polish border there is also a wood plastic composite factory in germany upm profi bruchsal wood plastic composite factory located in bruchsal approximately 20 km northeast of karlsruhe in the state of baden w rttemberg . distance to frankfurt is some 120 km and to stuttgart some 80 km . uk edit upm owns 3 production units in the united kingdom . paper mills upm caledonian paper mill located in irvine north ayrshire a coastal town in southwestern scotland some 30 miles from glasgow upm shotton paper mill located in shotton in the district of deeside in the county of flintshire in northeastern wales close to the estuary of the river dee . distance some 8 miles to chester 35 miles to manchester . there