Madison Paper Industries sells related mill assets in the US

UPM-Kymmene Inc. and Northern SC Paper Corp., a subsidiary of the New York Times Company, announced today the sale of Madison Paper Industries\' mill site located in Madison, Maine to a joint venture of New Mill Capital Holdings of NY, Perry Videx of Hainesport, NJ and Infinity Asset Solutions of Toronto.

The sale is a continuation of the dissolution of the partnership that was announced in March 2016. The hydro power assets located at the mill site are currently being marketed separate of today\'s transaction.

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. The assets include two hydro power plants and numerous properties.

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 9,000 people.