OREANDA-NEWS. July 29, 2011. All the necessary approvals concerning the sales of UPM’s Russian logging company ZAO Tikhvinsky Komplexny Lespromkhoz to International Paper have been obtained and the transaction has been closed, as the company said in a statement received by Lesprom Network.

The sales of Tikhvinsky KLP to International Paper was announced on 13 April, 2011.

UPM acquired Tikhvinsky in 2005 and has invested considerable time and effort in improving both its operational and financial results. In 2007, Tikhvinsky received FSC forest certification, which recognizes the company's successful environmental performance.