UPM is to build a new head office in Helsinki city centre which will use the company’s timber construction materials.
The company has applied for a building permit and expects construction work to begin at the start of 2012.
The new building, which will be a third smaller than UPM’s existing HQ, will represent Finnish design and is to demonstrate the use of UPM products and wood as construction material.
Operating costs of the new office, to accommodate around 400 staff, will be nearly €2m lower than those of the current head office, which is leased by UPM from the German insurance group Allianz.
UPM’s current lease will end in 2013.
