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2011-04-07 13:51:06 CEST 2011-04-07 13:52:03 CEST REGULATED INFORMATION UPM-Kymmene - Company AnnouncementUPM's President and CEO Jussi Pesonen at the company's Annual General Meeting: A strong cash flow and balance sheet provide means to realise growth opportunitiesHelsinki, 2011-04-07 13:51 CEST (GLOBE NEWSWIRE) -- UPM-Kymmene Corporation Stock exchange release 7 April 2011 at 14:50 UPM's President and CEO Jussi Pesonen confirmed his confidence in UPM's continued positive development at the company's Annual General Meeting today. “Following a strong performance in 2010, UPM is well positioned both in terms of business cycle and strategy”. “There has been a solid start to 2011. Deliveries and price increases have materialised as expected; however, unfortunately, cost pressures are accelerating”. “The outlook for 2011 continues to be favourable. Operating profit, excluding special items, is expected to improve on 2010 and the first half of the year will improve markedly on the first half of 2010”. “We have taken significant strategic steps by growing in cost-competitive pulp production and driving consolidation of the European paper industry. Now, our strategic aim is to shift the focus to markets and businesses with sustained growth and value creation. Each business area has a clearly defined strategic agenda supporting UPM's renewal. A strong cash flow and balance sheet provide means to realise these growth opportunities”, says Pesonen. UPM-Kymmene Corporation Pirkko Harrela Executive Vice President, Corporate Communications UPM, Corporate Communications Media Desk, tel. +358 40 588 3284 media@upm.com DISTRIBUTION NASDAQ OMX Helsinki Ltd Main media www.upm.com |
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