UPM Spins Off Plywood Business into Independent WISA Group

The separation follows a demerger plan approved by UPM’s board in April, which aims to transfer all assets and liabilities associated with the plywood business to the newly formed WISA Group. UPM shareholders are set to vote on the finalization of this plan at an Extraordinary General Meeting scheduled for August 31, 2026. If approved, the formal completion of the demerger is slated for October 31.

WISA enters the market as a significant European producer, managing seven production units across Finland and Estonia with an annual capacity of approximately 785,000 cubic meters. To lead the company, the board has appointed Tuija Suur-Hamari as President and CEO. She will head a leadership team that includes Pia Helminen, Saara-Maria Helminen, Kristiina Jaaranen, Susanna Rinne, Juhani Tenhunen, and interim CFO Lasse von Hertzen.

Beyond the leadership transition, the company has outlined ambitious performance targets, including sales exceeding EUR 550 million by 2030 and a comparable EBIT margin of 13 percent. The firm intends to adopt a dividend policy aiming to distribute roughly half of its annual profit. While the prospectus highlights a strategy rooted in premium product differentiation and partnership-led sales, these targets remain subject to market conditions and the inherent risks of the industrial sector.