UPM sells Loparex release liner business

UPM has signed an agreement on the sale of Loparex Group, a business unit in UPM's Converting Division, to Mountaintop Investments B.V. The buyer is a capital investment company belonging to ABN AMRO Capital Group. The sale price is approximately EUR 230 million.
Loparex is a leading producer of siliconized release materials for hygiene products, labels and industrial applications. The production plants are located in Finland, Great Britain, the Netherlands, the United States and China and a joint venture in India. The turnover of Loparex Group amounted to EUR 337 million in 2004 and it employs some 1,350 people.
After the sale of Loparex, UPM's Converting Division consist of Raflatac, producing pressure-sensitive labelstock, UPM Rafsec producing RFID (radio frequency identification) tags and Walki Wisa producing wrappings and composite materials for industrial applications.