UPM-Kymmene Secures Regulatory Approval for Plywood Unit Demerger

10:17 AM EDT, 07/16/2026 (MT Newswires) -- UPM-Kymmene (UPM.HE) received approval from the Finnish Financial Supervisory Authority for the demerger of its plywood business into a new listed company named Wisa Group. The Finnish forest products manufacturer said Thursday that the completion of the demerger plan is expected on Oct. 31, subject to shareholder approval at an extraordinary general meeting on Aug. 31. Wisa is expected to trade on Nasdaq Helsinki on Nov. 2. UPM's board appointed Tuija Suur-Hamari as the president and chief executive officer of the planned new company.