(UPM, Helsinki, 1 August 2017 at 8:30 EET) - Madison Paper Industries, a partnership of UPM and Northern SC Paper Corp., a subsidiary of The New York Times Company, concluded the sale of its hydro power facilities to Eagle Creek Renewable Energy, LLC, a hydroelectric power producer, based in Morristown, NJ, USA on 31 July 2017.
The transaction was announced by Madison Paper Industries in April 2017.
For further information please contact:
Ruud van den Berg, Senior Vice President, Magazines, Merchants & Office, UPM Paper ENA tel. +49 151 1215 8310
Bernard H. Cherry, CEO, Eagle Creek Renewable Energy, LLC, tel. +1 973 998 8400, www.eaglecreekre.com
UPM, Media Relations
Mon-Fri 9:00-16:00 EET
tel. +358 40 588 3284
media@upm.com
About Eagle Creek
Eagle Creek Renewable Energy is an owner, operator and developer of hydroelectric power projects. Eagle Creek's projects provide clean energy to electricity consumers in North America while providing recreational opportunities and protecting historical resources and the environment. Eagle Creek was founded in 2010 to acquire, enhance, and operate small to medium hydroelectric power facilities. Eagle Creek currently owns and operates a portfolio of over 200 MW of hydroelectric facilities across the United States. Eagle Creek is a privately owned entity with its largest investors being Power Energy Eagle Creek and Hudson Clean Energy Partners.
About Madison Paper Industries
Madison Paper Industries is a partnership of UPM and Northern SC Paper Corp., a subsidiary of The New York Times Company.
About UPM Paper ENA
UPM Paper ENA (Europe and North America) is the world's leading producer of graphic papers, offering an extensive product range for advertising and publishing as well as home and office uses. The high performing papers and service concepts of UPM add value to our customers' businesses, while actively fulfilling demanding environmental and social responsibility criteria. With headquarters in Germany, UPM Paper ENA employs approximately 8,000 people. More about UPM Paper ENA and its products at www.upmpaper.com
About UPM
Through the renewing of the bio and forest industries, UPM is building a sustainable future across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Paper ENA and UPM Plywood. Our products are made of renewable raw materials and are recyclable. We serve our customers worldwide. The group employs around 19,300 people and its annual sales are approximately EUR 10 billion. UPM shares are listed on NASDAQ OMX Helsinki. UPM - The Biofore Company - www.upm.com
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