UPM Board Approves Plan to Spin Off Plywood Business
On Wednesday, UPM-Kymmene’s Board of Directors approved a demerger plan to separate its UPM Plywood business into a new independent listed company, to be named WISA Group Plc, following a strategic review launched in September 2025.
UPM said all assets and liabilities related to the plywood business will be transferred to WISA Group as part of the demerger. The new company will be established through the transaction.
The company plans to apply for listing WISA Group shares on Nasdaq Helsinki. Upon completion, WISA Group is expected to initially have the same shareholder structure as UPM.
The demerger remains subject to approval at UPM’s Extraordinary General Meeting, expected by early September at the latest. The transaction is planned to be completed by October 31.
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